Aditya Birla Fashion Q1 Results: Consolidated net loss of Rs 161.62 crore

Compared to a profit of Rs 94.44 crore in the corresponding period of the previous fiscal, ABFRL reported a consolidated net loss of Rs 161.62 crore for the first quarter ended June 30 of the current fiscal 2023-24.

Negative operational leverage brought on by Pantaloons' business's weak sales, as well as ongoing investments in TMRW and ethnic businesses, had an impact on the quarter's profitability.

In the quarter under review, the company's total operating revenue climbed 11% YoY to Rs 3,196.06 crore from Rs 2,874.76 crore in the same period the previous year.

Despite difficult market conditions, the rise in quarterly revenue was driven by a substantial pick-up in new businesses and stable performance from current businesses.

EBITDA, fell 37.6% to Rs 292.3 crore from Rs 468.5 crore in the same period last year. The margins were 9.1% compared to 16.3% on-year.

Source: Media Reports