For the July-September 2018 quarter, ABFRL’s profit after tax (PAT) stood at ₹43 crore vis-à-vis a loss of ₹10 crore in the corresponding quarter of FY18. “This was on the wings of an overall improvement in all the business segments,” the company said in a press release.
On H1 basis, the EBITDA zoomed 56 per cent while revenues grew 10 per cent (Ind AS and GST adjusted growth rate of 12 per cent) compared to H1 of the FY 2017-18.
Business segment-wise, Madura, which consists of Lifestyle brands – Louis Philippe, Van Heusen, Allen Solly and Peter England, Fast Fashion – Forever 21 and People and other businesses, recorded a spectacular 52 per cent EBITDA growth at ₹114 crore in Q2 FY19 as against ₹75 crore in Q2 FY18. Revenues rose by 13 per cent to ₹1,263 crore vis-à-vis, ₹1,119 crore in the corresponding quarter of FY 18.
While Fast Fashion continues to operate cautiously, Other Businesses continue the upward trend displaying 88 per cent growth in revenues over Q2 FY18, ABFRL said.
“Innerwear distribution network continues to expand aggressively with approximately 9,500 outlets across the country. The business also had a successful launch of women’s innerwear and Polo Ralph Lauren,” the release said.
Pantaloons business segment too continued on its growth trajectory despite the festive season moving to Q3 FY19, and attained a remarkable growth in EBITDA of 47 per cent from ₹35 crore to ₹52 crore in Q2 FY19. Revenues grew by 6 per cent over Q2 FY18 reaching ₹787 crore (Ind AS adjusted growth rate of 8 per cent).
Stating that ABFRL’s outlook for the future is bright, the company said that the Lifestyle brands will continue its growth momentum on the back of product innovations, category extensions and impactful marketing campaigns.
Pantaloons’ growth will be accelerated with its continued focus on product improvement, brand investments and expansion into newer territories.
Fast Fashion segment will reignite growth post its business model adjustment.
Innerwear is expected to build on the strong growth momentum, driven by both men’s and women’s offerings.
The International Brands are all set to expand distribution to build upon the existing brand portfolio.
As on September 30, 2018, ABFRL had a spread of 2,576 brand stores, approximately 14,000 multi-brand outlets (including 9,500+ trade outlets in Innerwear) and 4,100+ points of sale in Department stores across the country. (RKS)
Fibre2Fashion News Desk – India
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