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ABFRL posts Q1 FY20 revenue of ₹323 cr
14 Aug 20 2 min read
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.
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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.
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.
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.
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)
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