Madura Fashion & Lifestyle revenue increased by 45.51% and Pantaloons revenue increased by 64.41%.
New Delhi: Aditya Birla Fashion and Retail announced on Friday that it had quintupled its consolidated net profit to Rs 29.44 crore in the second quarter of FY23, driven by strong festive sales and steady performance of e-commerce channels.
The company had recorded a net profit of Rs 5.09 crore in the July-September quarter of the previous financial year, Aditya Birla Fashion and Retail Ltd (ABFRL) said in a regulatory filing.
Its operating income increased by 49.66% to Rs 3,074.61 crore in the quarter under review from Rs 2,054.34 crore in the corresponding period last year.
The Aditya Birla Group company achieved its “highest quarterly revenue” in the second quarter of FY23, the company said in its income statement.
“Strong and consistent performance in e-commerce was the main driver of growth in the quarter. The period also saw an increase in marketing investments after a hiatus of more than 2 years since COVID, as the company reinvigorated its focus on brand building and strengthening consumer connection,” he said. declared.
During the July-September quarter, ABFRL continued “aggressive network expansion” across brands by adding 21 stores under the Pantaloons format and 85 stores for its branded operations, it added.
ABFRL’s revenue from the Madura Fashion & Lifestyle segment increased by 45.51% to Rs 2,108.56 crore from Rs 1,449.05 crore in the corresponding quarter.
Pantaloons’ revenue also increased by 64.41% to Rs 1,093.74 crore from Rs 665.22 crore in the corresponding quarter last year, achieving its “highest quarterly revenue of any time”.
“E-commerce grew 20% year-on-year on strong festive app and website sales. EBITDA margins were above pre-COVID levels, driven primarily by strong reductions in markdowns and to better achievements of worth,” he said.
ABFRL’s total expenditure amounted to Rs 3,072.14 crore, up 48.41% in Q2FY23 from Rs 2,069.96 crore a year ago.
The company closed the quarter with net debt of Rs 243 crore at consolidated level compared to Rs 504 crore at the end of March FY22.
While commenting on the outlook, the ABFRL said that after having had “sustained demand” and an encouraging start to the holiday season, it remains “optimistic” about overall consumption of fashion products for the rest of the year. year.
“Accelerating urbanization, sustained revenue growth and the need for a sophisticated shopping experience bode well for ABFRL’s brand portfolio,” he said.
ABFRL has a stylish bouquet of top fashion brands and retail formats.
The company, which has a repertoire of major brands such as Louis Philippe, Van Heusen, Allen Solly and Peter England in addition to fast fashion store Pantaloons, has a network of 3,593 stores as of September 30, 2022.
Its international brand portfolio includes The Collective, India’s largest multi-brand retailer of international brands and maintains exclusive long-term partnerships with select brands such as Ralph Lauren, Hackett London, Ted Baker, Fred Perry, Forever 21, American Eagle and Reebok.
Shares of Aditya Birla Fashion and Retail Ltd closed at Rs 328.95 on BSE on Friday, down 6.67% from the previous close.