Aditya Birla Fashion and Retail (ABFRL) on February 14 reported a consolidated net loss of Rs 107.60 crore for the December quarter of FY24 compared to a net profit of Rs 11.21 crore in the year-ago period.
The total revenue of the company stood at Rs 4,166.71 crore an increase of 16 percent from Rs 3,588.80 crore in the year-ago quarter, the company said in a regulatory filing.
Earnings before interest, tax, depreciation and amortization (EBIDTA) for the quarter was at Rs 605 crore growing by 29 percent.
The sales stood at Rs 1,815 crore while EBITDA for Q3 was Rs 349 crore a growth of 10 percent vs LY. EBITDA margin for the business expanded by around 230 bps YoY to reach 19.2 percent, led by better value realizations and focus on driving growth in high profitability channels.
The sales stood at Rs 1,815 crore while EBITDA for Q3 was Rs 349 crore a growth of 10 percent vs LY. EBITDA margin for the business expanded by around 230 bps YoY to reach 19.2 percent, led by better value realizations and focus on driving growth in high profitability channels.
Pantaloons
The business recorded sales of Rs 1,297 crore, up 12 percent over last year while EBITDA grew 40 percent to reach Rs 235 crore led by sharp markdown reductions and effective cost control measures. EBITDA margin expanded by 360 bps YoY to reach 18.1 percent. LTL for the business was 3 percent as it continued to focus on product enhancements and driving higher conversions. Pantaloons network grew to 446 stores this quarter as the business focused on overall improvement of the health of the network.
Youth Western wear segment
This segment consists of American Eagle and Forever 21. American Eagle achieved a 34 percent YoY revenue growth led by strong distribution expansion and consumer engagement. Brand American Eagle added 10 stores to the network and is now available at 59 stores and 100+ DS doors. Forever 21, though, continued to face headwinds in a tough market while organically driving operational rigor.
Reebok
This segment posted another quarter of 100+ crore sales, driven by continued distribution expansion and improved store throughputs. The brand is now available at 160+ stores and around 850 point of sales across DS and Multi brand outlets (MBOs). Brand expanded its product portfolio by launching high performance footwear for cricket and badminton in Q3.
Super premium brands
This segment includes the multi-brand format “The Collective” and other super-premium brands, delivered consistent performance with a revenue growth of 16 percent YoY. E-com website thecollective.in witnessed 50 percent growth YoY, strengthening its leadership position in the segment.
Innerwear & athleisure
This segment sales were impacted due to softness in the athleisure category, while the Innerwear category grew 5 percent YoY. The brand’s inaugural celebrity campaign starring Hardik Pandya received over 250+ million views on digital platforms, resulting in heightened engagement and awareness. In Q3, the brand expanded its reach by adding over 700 MBOs, increasing its total presence to around 34300 trade outlets.
Ethnic businesses
This segment grew 43 percent YoY this quarter (excluding TCNS), driven by network expansion and strong traction due to festive & wedding season across brands. Sabyasachi grew 43 percent YoY led by strong LTL growth on the back of strong appeal for jewellery.
Brand recorded its highest ever quarterly sales of 150+ crore in Q3 as it continued to be the preferred brand amongst HNIs and celebrities. Men’s premium ethnic wear brand TASVA witnessed strong interest during its first full festive season as the brand doubled its revenue over LY. Shantnu & Nikhil posted 30 percent growth YoY as its Pret label “S&N” grew 42 percent over LY led by 20 percent LTL growth. House of Masaba recorded 16 percent revenue growth over LY, as the brand added 2 new stores to exit Q3 with 14 stores. TCNS revenue in Q3 stood at 91 percent of LY as the business passes through a period of weak consumption environment.