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EBITDA at fashion division of Aditya Birla Nuvo surges 53%
13
Aug '14
Led by revenue growth and margin expansion across formats, EBITDA at the fashion & lifestyle business of diversified firm Aditya Birla Nuvo soared by 53 percent year-on-year to Rs 109 crore in the first fiscal quarter ending June 30, 2014.

While, sales at the fashion & lifestyle division rose 18 percent year-on-year to Rs 1,528 crore in the quarter under review.

Madura Fashion & Lifestyle achieved all round growth in earnings. Its revenue surged 23 percent year-on-year to Rs 787 crore and EBITDA soared 66 percent year-on-year to Rs 62 crore, while EBITDA margin expanded by 200 basis points.

Sales at Pantaloons grew 12 percent year-on-year to Rs 386 crore. Led by execution of portfolio strategy and improved merchandising, gross margin expanded by over 300 basis points.

However, the annualisation impact of business building costs and higher accelerated depreciation on account of stores refurbishment strained the bottom-line of the business, Aditya Birla Nuvo said.

During the quarter, 66 stores were opened to reach 1,791 exclusive brand outlets/stores, spanning nationwide across 4.4 million square feet.

Pantaloons had also announced that it is raising capital through a rights issue to fund its growth capital requirements.

In its textile division, Aditya Birla Nuvo said that Jaya Shree Textiles attained its highest ever quarterly earnings led by expansion in linen segment.

To strengthen its market leadership, Jaya Shree Textiles is further expanding its linen yarn capacity from 3,400 to 6,400 tonnes per annum.

Fibre2fashion News Desk - India

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