Aditya Birla Fashion Q3 profit doubles to Rs 70 crore
Aditya Birla Fashion & Retail saw its profit double to Rs 70 crore ($9.8 million) during the third quarter of the fiscal year 2018-19, ending December 31, 2019. The company had reported a net profit of Rs 35 crore during the corresponding period last fiscal.
The company’s revenue also rose 23 percent during the quarter to Rs 2,282 crore as compared to Rs 1,855 crore it posted during the same period last year.
"Fast Fashion segment will continue with its journey of business model improvement. Innerwear is expected to keep expanding its reach, riding on both men’s and women’s distinctive products. The International Brands will steadily build upon the existing brand portfolio," the company said in a statement.
“Lifestyle brands will continue its growth momentum, led by product innovation, network expansion, growth category expansion, and impactful marketing campaigns. Pantaloons’ growth will be accelerated with its continued focus on product enhancement, brand investments and expansion into newer markets,” it added.
Aditya Birla Fashion owns the exclusive rights for international brands Forever 21, Ted Baker, Simon Carter among many others in India. Currently, ABFRL has over 10,000 points of sale across India, which includes more than 2,000 exclusive ABFRL brand outlets in India and abroad.
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