ABFRL Q3 net profit jumps three-fold to Rs 197 crore

By

Maverick Martins

Published
Feb 7, 2022

Aditya Birla Fashion and Retail Ltd witnessed a three-fold jump in its net profit to Rs 197 crore ($26.4 million) for the third quarter ended December 31, as against a net profit of Rs 58 crore it reported in the year-ago period.
 

The company’s revenue for the quarter rose 44 percent to Rs 2,987 crore, as against Rs 2,076 crore it reported in the corresponding period of the previous fiscal year.
 
ABFRL's total expenses increased 36 percent to Rs 2,744 crore in the quarter, as against Rs 2,010 crore a year ago.

“The onset of wave 3 has affected current market conditions and we expect normalcy to return in the following months as the pandemic wears down. The company remains focused on leveraging its strong brand portfolio, evolving its product profile in line with changing consumer preferences, expanding its reach and accelerating its omni-channel play. Sharp focus on cost and capital productivity will continue to guide the company’s business model,” ABFRL said in a statement.
 
“Moving forward, ABFRL will look to expand into segments and businesses that are inherently more digital in nature, in sync with the consumer trends in fashion,” it added.
 
During the quarter, ABFRL opened 200 new stores across businesses. The company has a network of 3,397 stores, 26,744 multi-brand outlets, and over 6,750 point of sales in department stores across India.