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ABFRL EBITDA soars 50% in Q1FY19

Aug '18
Courtesy: ABFRL
Courtesy: ABFRL
Aditya Birla Fashion and Retail Limited (ABFRL) has reported a remarkable 50 per cent increase in EBITDA along with revenue growth of 8 per cent in the first quarter of fiscal 2019. Performance across e-commerce has also been encouraging – consistent upward trajectory of sales recorded in the channel for most of its businesses in the reported period.

Profit After Tax (PAT) stood at Rs 6 crore as against a loss of Rs 20 crore in the corresponding quarter last year. The company focused on brand strengthening and rejuvenation. Its powerful marketing campaigns created significant impression on minds of consumers and the marketing spend increased by 40 per cent. The growth was accelerated riding on newer consumer segments, innovative product lines and brand strengthening initiatives, ABFRL has said in a press release.

Business segment Madura recorded an impressive EBITDA growth of 25 per cent with the revenue rising to Rs 945 crore as compared to Rs 891 crore in the same period last year. The EBITDA for Lifestyle brands has increased by 20 per cent while revenue grew by 6 per cent over the first quarter of fiscal 2018. However, GST and Ind AS adjusted revenue growth was 12 per cent. Fast Fashion EBITDA losses halved despite lower sales due to concerted efforts towards cost outs and improvement in store productivity. Other businesses comprising international brands and innerwear continued the upward trend, with 81 per cent growth over the last year, primarily through a widened distribution network of innerwear business.

For fiscal 2019, Lifestyle brands, through innovative product lines and brand strengthening initiatives, will continue to grow. Pantaloons, with its focus on new store additions and improved price value equation, will continue to grow profitably. The company will continue to build its portfolio in casual wear, women’s fast fashion and super premium segments to complement its existing strong portfolio. The outlook for the year is positive as all of ABFRL’s major brands have a well charted growth path. (RR)

Fibre2Fashion News Desk – India

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