ABFRL posts Q2 net profit of Rs 43 crore
Aditya Birla Fashion and Retail Ltd (ABFRL), formerly known as Pantaloons Fashion, is back to profitable ways as a result of overall improvements in all business segments and reported a net profit of Rs 43 crore (approx $6 million) for the September quarter as compared to Rs 10 crore loss it had posted during July-September last fiscal.
ABFRL's total revenue also grew 10 percent at Rs 2,026 crore during the quarter under review. It was Rs 1,811 crore in the year-ago period.
“Business segment-wise, Madura -- which consists of lifestyle brands [including] Louis Philippe, Van Heusen, Allen Solly, and Peter England; Fast Fashion [such as] Forever 21 and People; and other businesses -- recorded a spectacular 52 percent EBITDA growth at Rs 114 crore in Q2 FY19 as against Rs 75 crore in Q2 FY18,” the company said in a statement.
“Innerwear distribution network continues to expand aggressively with approximately 9,500 outlets across the country. The business also had a successful launch of women’s innerwear and Polo Ralph Lauren during the quarter,” the statement added.
Commenting on the outlook, the company statement said, “The lifestyle brands [category] will continue its growth momentum on the back of product innovations, category extensions, and impactful marketing campaigns. Pantaloons’ growth will be accelerated with its continued focus on product improvement, brand investments and expansion into newer territories.”
ABFRL closed the quarter with 2,576 brand stores, approximately 14,000 multi-brand outlets (including 9,500+ trade outlets in Innerwear) and 4,100+ points of sale in department stores across the country.
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