Aditya Birla Fashion posts Q4 net profit of Rs 32 crore
Aditya Birla Fashion and Retail Ltd (ABFRL) reported a consolidated net profit of Rs 32 crore ($4.1 million) for the fourth quarter ended in March 2022, as against a net loss of Rs 196 crore it posted in the year-ago period.
The company’s revenue for the quarter rose by 25 percent to Rs 2,282 crore, as against Rs 1,821 crore in the corresponding period of the previous fiscal.
ABFRL's total expenses grew by 16 percent at Rs 2,266 crore, as against Rs 1,960 crore.
For the fiscal year ended in March 2022, ABFRL managed to narrow down its consolidated net loss to Rs 118 crore from Rs 736 crore in the previous year. Its revenue for the financial year was Rs 8,136.
“A rapid revival in demand across categories led to a robust quarterly performance despite the impact of the third wave of the pandemic. The investments in e-commerce and omnichannel expansion have shown results with rising consumer affinity for our brands," ABFRL said in its earnings statement.
"Product innovations and expansion into newer categories drove the growth of our brand franchise. The business also continued its expansion into smaller town markets, building upon successful pilots carried out earlier this year. We expect this momentum to continue in the coming quarters of this year as well,” it added.
ABFRL, part of the Aditya Birla group ended the financial year with a network of 3,468 stores and 28,585 multi-brand outlets.
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