India fashion retailer, Aditya Birla Fashion and Retail Ltd. (ABFRL) has declared its financial results which is more than five-fold rise in net profit to Rs. 113.12 crores for the fourth quarter ended in March 2018 as against Rs. 21.83 crore previous year. A deferred tax gain of Rs. 68.82 crores reportedly helped the company to note such an enormous growth.
However, ABFRL has made it clear that revenue from operations for the reporting period (quarter and year) should not be compared due to the implementation of GST (Goods and Services Tax) in 2017.
The company, formerly known as Pantaloons Fashion, observed a total income of Rs. 1,764.35 crores in the quarter under review as compared to Rs. 1,642.48 crores during the corresponding period of previous fiscal.
Madura Fashion & Lifestyle’s standalone revenue for the quarter stood up by 11.1 per cent to Rs. 1,161 crores as against Rs. 1,045 crores last year. In FY 2018, revenues remained Rs. 4,468.8 crores against Rs. 4,114.3 crores in FY 2017 up by 8.6 per cent.
The company is further planning to continue to tap new segments to expand its presence, it stated in the statement issued. Growth in lifestyle brands, brand-building and product innovations will further be on ABFRL’s growth chart.
The company is planning to open a few Pantaloons outlets to boost overall profitability. Last year, 66 new stores were opened. Pantaloons recorded Rs. 641.3 crores in revenues during the quarter versus Rs. 585.7 crores last year (up 9.5 per cent). In FY 2018, revenues for the brand were Rs. 2,861.5 crores against Rs. 2,552.3 crores in FY 2017 (up 12.1 per cent).
Notably, ABFRL owns fashion brands such as Van Heusen, Pantaloons, Louis Philippe, Peter England and Forever 21 under its Madura Fashion & Lifestyle arm. Its products are retailed through 2,465 brand stores, 4,982 multi-brand outlets and more than 4,000 points of sale in department stores across India.
– Apparel and Textile News, Apparel Talk, Indian Apparel
