New Delhi: Aditya Birla Fashion and Retail Limited (ABFRL) has turned to a consolidated net profit of Rs 94.44 crore in the first quarter ended June 30 of the current fiscal 2022-23 as against a loss of Rs 352.15 crore in the same period of the previous fiscal, according to a regulatory filing.
The company’s total revenue from operations has increased more than threefold to Rs 2,874.76 crore in Q1 FY23 as compared to Rs 811.95 crore in the same quarter last year. And it grew by 39 per cent over pre-COVID levels from Rs 2,065 crore in Q1 FY20.
ABFRL’s total expenses in Apr-Jun quarter more than doubled to Rs 2,771.02 crore in FY23 as against Rs 1,303.67 crore in the corresponding period in FY22, as per the BSE filing.
On its outlook, the company said, “Improved consumer confidence, value migration to the organized sector, and robust omnichannel presence led to strong growth and improved profitability. We expect this momentum to continue in upcoming quarters, with a further boost during the festive season.”
ABFRL said it will continue to invest in strengthening their brand propositions and drive sales via both physical and online stores.
Presently, ABFRL houses brands including Louis Philippe, Van Heusen, Allen Solly and Peter England. The company’s international brands portfolio includes The Collective and it also has partnerships with Ralph Lauren, Hackett London, Ted Baker, Fred Perry, Forever 21, American Eagle and Reebok.
The company’s recent forays into ethnic wear business includes brands such as Jaypore, Tasva and Marigold Lane. It also has strategic partnerships with Designers Shantanu & Nikhil, Tarun Tahiliani, Sabyasachi and House of Masaba.