The net loss of Aditya Birla Fashion and Retail (ABFRL) widened to Rs 196 crore in Q4 FY21 against Rs 147 crore loss posted in the year ago period. The company reported earnings before interest, tax, depreciation and amortisation (EBITDA) at Rs 253 crore in Q4 FY21 against Rs 167 crore in Q4 FY20.
Revenues remained flat at Rs 1,822 crore in Q4 FY21 as compared to Rs 1,832 crore in Q4 FY20 due to COVID-19 induced lockdowns and restrictions in movements.
The company set up over 400 new stores in FY21 besides rationalizing its store 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.
To mitigate the COVID-19 impact on profitability, the company rationalized over Rs 1,200 crore of costs during the year. It also reduced debts from Rs 2,511 crore to Rs 654 crore through a mix of operating cash flows and equity infusion.
