Aditya Birla Fashion Q4 net profit up 79 percent to Rs 203 crore
today May 16, 2019
Aditya Birla Fashion and Retail Limited (ABFRL) witnessed a 79 percent surge in its profit to Rs 203 crore ($29 million) for the fourth quarter ended March 31, as against a profit of Rs 113 crore it had posted a year ago.
The company’s revenue also rose by 9 percent to Rs 1,915 crore during the quarter as compared with Rs 1,754 crore in the year-ago period.
ABFRL revenue for the full fiscal year 2018-19 grew 13 percent to Rs 8,118 crore while its net profit jumped 173 percent to Rs 321 crore on the back of strong sales from its lifestyle and fast fashion business.
During the fourth quarter, the company also opened the first Ralph Lauren store in India at Delhi and is expecting strong sales from its global brands going forward.
Commenting on the future outlook, the company in a statement said, “Pantaloons will continue to grow by focussing on improving its value proposition and targeting newer markets to expand its footprint. Lifestyle brands will focus on brand strengthening, category extensions, store network expansion, and customer centricity.”
"Overall, ABFRL is well positioned to surge ahead in the billion-dollar market and build on its current momentum,” the statement added.
ABFRL is India’s largest fashion and lifestyle company with a strong bouquet of leading fashion brands and retail formats. It currently has a network of 2714 stores, presence across approximately 18,000 multi-brand outlets with more than 5,000 points of sales in department stores across India.
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