Aditya Birla Fashion reports Q4 net loss of Rs 196 crore
Aditya Birla Fashion and Retail Ltd (ABFRL) posted a net loss of Rs 196 crore ($27.1 million) in the quarter ended March 2021, as against a net loss of Rs 147 crore in the year-ago period attributing it to Covid-19 induced lockdowns and restrictions.
The company’s revenue for the quarter was flat at Rs 1,822 crore, as against Rs 1,832 crore it reported in the corresponding period of the previous fiscal year.
“Q4 continued with a strong recovery trend until the disruption due to the second wave of Covid-19 led to localised shutdowns. Good sales in smaller towns and cities, best-ever e-commerce growth across brands and resilient product strategy were drivers of the recovery," ABFRL said in its earning statement.
“In FY21, ABFRL launched more than 400 new stores across businesses and formats and rationalised the network. It scaled up across town classes through asset-light model and focused on new product categories in line with changing consumer preferences for more casual and active wear,” it 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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