Aditya Birla Fashion Swings To Profit In December Quarter


Aditya Birla Fashion and Retail Ltd (ABFRL) on Monday reported consolidated net profit of ₹ 58 crore on revenue of ₹ 2,076 crore in the quarter ended December 2020. It had posted a net loss of ₹ 37 crore on revenues of ₹ 2,583 crore in the same quarter of last financial year. In the previous quarter og the current financial year, the company had clocked net loss of ₹ 188 crore on a turnover of ₹ 1,028 crore due to the Covid-19 induced countrywide lockdown.

In October-December period, the Aditya Birla Fashion posted operating profit or earnings before interest, tax, depreciation and amortisation (EBITDA) of ₹ 422 crore as against ₹ 423 crore in the corresponding period a year ago. Superior product offerings, tighter markdown management and relentless fixed cost controls fueled margins by 400 basis points, the company said in a press release.

The pace and extent of recovery that started with the opening of stores in second quarter was amplified on the back of a large pent up demand, strong festive spirit and a concentrated wedding season.

A combination of the above factors led to an upsurge in sales to almost double of Q2 levels, said the company. Aided by the performance of businesses along with aggressive cost and working capital control measures, ABFRL generated nearly ₹ 588 crore cash during the quarte, the company added.

READ  Severe Allergic Reaction In US Health Worker Minutes After Pfizer Shot