Aditya Birla Fashion and Retail Ltd (ABFRL) has reported a consolidated net loss of INR 266.35 crore for the fourth quarter ended March 2024. This marks an increase from the net loss of INR 194.54 crore recorded during the same period the previous year, according to the company’s regulatory filing.
Its revenue from operations for the quarter under review was INR 3,406.65 crore, compared to INR 2,879.73 crore in the same period last year.
The Aditya Birla group firm stated that the consolidated financial results for the quarter ended March 31, 2024, are “not comparable with previous quarters” due to the acquisition of TCNS Clothing and Styleverse Lifestyle.
Its total expenses in the March quarter amounted to INR 3,813.87 crore.
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“Amidst market headwinds, our established businesses remain focused on enhancing profitability,” ABFRL highlighted in its earnings statement.
Segment-wise Revenue Breakdown
Revenue from the ‘Madura Fashion & Lifestyle’ segment reached INR 1,861.75 crore, while Pantaloons’ revenue stood at INR 895.03 crore. The Ethnic and Others business recorded revenue of INR 712.43 crore, buoyed by increased same-store sales, network expansion, and category extensions.
The Reebok segment experienced a 29 percent growth this quarter, achieving profitable revenue surpassing INR 450 crore within its inaugural year under the Company’s operation.
Recently, it revealed plans for the demerger of the Madura business into a distinct entity named Aditya Birla Lifestyle Brands Limited (ABLBL), which will be listed separately.
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“The strategic demerger of ABFRL is laying the groundwork for the establishment of two distinct growth engines, each with a defined capital allocation strategy and a distinctive approach to value creation. Both entities will concentrate on targeted growth areas that resonate with their business models, aiming to optimize returns for shareholders,” it stated.
In the March quarter, ABFRL’s total income stood at INR 3,494.14 crore.
The Aditya Birla group company “ended the quarter with a net debt of INR 2,862 crore, consistent with the guidance provided at the beginning of the year.”
For the fiscal year that ended on March 31, 2024, ABFRL reported a net loss of INR 735.91 crore, compared to INR 59.47 crore in the preceding year. Its revenue from operations in FY24 amounted to INR 13,995.86 crore.
Retail Network and Brand Portfolio
As of March 2024, ABFRL boasts a network comprising 4,664 stores, spanning approximately 37,205 multi-brand outlets, with 9,563 points of sale in department stores throughout India.
It features a portfolio of brands including Louis Philippe, Van Heusen, Allen Solly, and Peter England. Additionally, it manages the fashion retail store Pantaloons.
In addition to its own brands, it also retails international brands such as Ralph Lauren, Hackett London, Ted Baker, Fred Perry, Forever 21, American Eagle, Reebok, Simon Carter, and Galeries Lafayette.
On Tuesday, shares of Aditya Birla Fashion and Retail Ltd concluded at INR 285.65 on the BSE, marking a decrease of 0.19 percent.
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