Aditya Birla Fashion and Retail Limited (ABFRL), India-based pure-play fashion and lifestyle company, reported first quarter (Q1) fiscal 2021 revenue of ₹323 crore. EBITDA (earnings before interest, taxes, depreciation, and amortisation) for the quarter ended on June 30, 2020 registered a loss of ₹182 crore. Company's loss after tax was ₹410 crore.
Aditya Birla Fashion and Retail Limited (ABFRL), India-based pure-play fashion and lifestyle company, reported first quarter (Q1) fiscal 2021 revenue of ₹323 crore. EBITDA (earnings before interest, taxes, depreciation, and amortisation) for the quarter ended on June 30, 2020 registered a loss of ₹182 crore. Company's loss after tax was ₹410 crore.#
The June quarter was one of the most challenging quarters for the company, and for the overall Indian apparel industry, ABFRL stated in a press release. The operations were severely impacted due to the unprecedented economic standstill induced by the pandemic.
Aditya Birla Fashion and Retail Limited (ABFRL), India-based pure-play fashion and lifestyle company, reported first quarter (Q1) fiscal 2021 revenue of ₹323 crore. EBITDA (earnings before interest, taxes, depreciation, and amortisation) for the quarter ended on June 30, 2020 registered a loss of ₹182 crore. Company's loss after tax was ₹410 crore.#
In the months of April and May, company reported that most of the retail network were closed, while e-commerce sales too restarted only in the 3rd week of May, when the restrictions on non-essential products were lifted. By the end of June, company’s nearly 80 per cent of network re-opened.
Aditya Birla Fashion and Retail Limited (ABFRL), India-based pure-play fashion and lifestyle company, reported first quarter (Q1) fiscal 2021 revenue of ₹323 crore. EBITDA (earnings before interest, taxes, depreciation, and amortisation) for the quarter ended on June 30, 2020 registered a loss of ₹182 crore. Company's loss after tax was ₹410 crore.#
During the quarter, company displayed agility in serving its consumers by creating products that are truly needed during this period, including masks, work from home collections, and an all-new athleisure range.
Aditya Birla Fashion and Retail Limited (ABFRL), India-based pure-play fashion and lifestyle company, reported first quarter (Q1) fiscal 2021 revenue of ₹323 crore. EBITDA (earnings before interest, taxes, depreciation, and amortisation) for the quarter ended on June 30, 2020 registered a loss of ₹182 crore. Company's loss after tax was ₹410 crore.#
The company also accelerated its digital transformation through a series of moves. Firstly, refreshing its brand websites to ramp up own e-commerce sales. Secondly, introducing omni-channel features such as video call sales, WhatsApp commerce, and buy- online-ship-from-store to leverage its distribution network. Thirdly, building huge scale through deeper partnerships with all the leading third party e-commerce players.
Fibre2Fashion News Desk (JL)