Home / Knowledge / News / Apparel/Garments / Madura posts 60% growth in revenue
Madura posts 60% growth in revenue
11
Feb '11
Aditya Birla Nuvo Limited (ABNL), a USD 3.5 billion conglomerate with leadership position across its businesses, has reported strong financial results. For the quarter ended 31st December 2010, the Company's consolidated revenue at Rs. 4,563 Crore grew by 12% and net profit at Rs. 275 Crore rose phenomenally vis-à-vis Rs. 8 Crore attained in corresponding quarter of the earlier year.

Commenting on the results, Dr. Rakesh Jain, MD, Aditya Birla Nuvo said, “The investments made in the growth businesses viz., Financial Services, Fashion & Lifestyle and IT-ITeS businesses are now yielding consistent results. This reflects the strength of ABNL's diversified business model and growth strategy which will continue to be pursued to further strengthen ABNL's leadership positions across all the businesses”.

Mr. Sushil Agarwal, CFO, Aditya Birla Nuvo highlighted, “Continuing its trend of delivering strong results quarter after quarter, ABNL posted 8th consecutive quarterly growth in EBITDA. On a year on year basis, net profit recorded a swing of more than Rs. 250 Crore during the quarter and more than Rs. 550 Crore during the nine months. The balance sheet and financial ratios have also been strengthened considerably. We are committed to maintain this trend of superior performance.”

Fashion & Lifestyle: Madura Garments has posted a 60% growth in revenue at Rs. 504 Crore. The business is leveraging its brand leadership and expanded retail presence to ride on the buoyant demand in the domestic market. Like to like stores sales from the major brands (Louis Philippe, Van Heusen, Allen Solly and Peter England) grew by 35%. During the quarter, 54 Exclusive Brand Outlets (EBOs) were launched to reach a total of 506 EBOs across 9.5 lacs sq. ft. area. EBITDA shot up from Rs. 10 Crore to Rs. 47 Crore during the quarter.

During the three quarters, business posted an EBITDA of Rs. 111 Crore – a swing of more than Rs. 100 Crore over the last year.

Madura Fashion & Lifestyle, a division of Aditya Birla Nuvo Ltd, is one of India's fastest growing branded apparel companies and a premium lifestyle player in the retail sector.

Madura Fashion & Lifestyle, Div. of Aditya Birla Nuvo Ltd

Must ReadView All

Apparel/Garments | On 5th Dec 2016

EC proposes new tax rules to support e-commerce in EU

The European Commission (EC) has unveiled a series of measures to...

Apparel/Garments | On 5th Dec 2016

Traders to intensify adoption of digital payments

Adoption of digital payments in their existing business format would...

Textiles | On 5th Dec 2016

US textile & apparel exports down 6.44% in Jan-Sept ’16

The exports of textile and apparel from United States were down 6.44...

Interviews View All

Janak Dhamanwala & Sunil Dhamanwala
Jansun

Moving towards sustainability is also a social change

Sonia Agarwal
Whitenife

‘The terms eco-friendly and organic are common but everyone perceives them ...

Asim Dalal
Indo Count Retail Ventures

Today, there is no other emerging market as India, "we make in India and...

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Kevin Nelson
TissueGen

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
December 2016

December 2016

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


Advanced Search