Aditya Birla Fashion & Retail’s profit up multifold
05 November 2022, Mumbai:
For the second quarter Aditya Birla Fashion and Retail’s (ABFRL) consolidated net profit increased fivefold.
This was led by robust festive sales and consistent performance from e-commerce channels. Total expenses were up 48 per cent. Revenue from operations went up 49 per cent during the quarter.
The period also saw an increase in marketing investments post a hiatus of more than two years since Covid as the company reinvigorated its focus towards brand building and strengthening consumer connect. During the quarter Aditya Birla pursued an aggressive network expansion across brands by adding 21 stores under the Pantaloons format and 85 stores for its branded business.
Revenue from Madura Fashion and Lifestyle was up 45 per cent in the quarter.Pantaloons' revenue was up 64 per cent. E-commerce grew 20 per cent on the back of robust festive sales on the app and the website. Ebitda margins were ahead of pre-Covid levels, mainly led by sharp markdown reductions and better value realisations.
ABFRL remains optimistic about the overall consumption of fashion products for the rest of the year mainly because of accelerated urbanisation, sustained income growth and the need for a sophisticated shopping experience.
ABFRL has an elegant bouquet of leading fashion brands and retail formats.
