Apparel الزيارات: 2158

ABFRL sees partial business recovery in FY’22

Apparel الزيارات: 2158
ABFRL sees partial business recovery in FY’22
Apparel الزيارات: 2158

26 August 2022, Mumbai

With its management focusing on retail expansion along with balance sheet discipline, Aditya Birla Fashion Retail (ABFRL) saw a partial recovery in the business in FY22.

As per a BQ Prime report, hit by the second COVID wave, the company’s consolidated revenue remained 7 per cent below pre-COVID levels (FY20). Its EBITDA margin remained stable at 13.5per cent on strong cost control.

ABFRL’s revenue from the lifestyle segment remained resilient, reaching pre-COVID levels.Revenue from Pantaloons remained 25 per cent below pre-COVID levels as its large format stores and its higher presence in malls was severely affected by the COVID-19 pandemic.

ABFRL’s EBITDA contribution from ethnic wear and other segments grew to 4 per cent from -5 per cent, led by a recovery in fast fashion, innerwear, and recent ethnic wear foray.

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