ABFRL posts Q2 net profit of Rs 5 crore
Aditya Birla Fashion and Retail (ABFRL) posted a consolidated net profit of Rs 5 crore ($671,766) for the second quarter ended September 2021, as against a net loss of Rs 188 crore in the year-ago period.
The company’s revenue for the quarter doubled to Rs 2,054 crore, as against Rs 1,028 crore it reported in the corresponding period of the previous fiscal year.
“Gradual recovery from the second Covid-19 wave with relaxed mobility restrictions and aggressive vaccination drive across the country changed the consumer sentiment sharply, leading to recovery in-store footfalls,” ABFRL said in a statement.
“Encouraged by the strong rebound, the company will accelerate its growth trajectory now, driven by aggressive expansion in the product portfolio, entry into newer consumer segments and network expansion, both in existing and newer markets. Given the underlying business fundamentals, the enhanced digital capabilities and the balance sheet strength, the company is well poised to embark on a new wave of growth and create value for all stakeholders,” ABFRL added.
Aditya Birla Fashion and Retail is India's largest fashion company with brands like Louis Philippe, Van Heusen, Allen Solly and Peter England, among many others. It currently has a network of 3,212 stores across 31,000 multi-brand outlets with 6,835 points of sale in department stores across India.
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