Aditya Birla Retail posts Rs 649.42 cr loss despite 21 pc increase...

Aditya Birla Retail posts Rs 649.42 cr loss despite 21 pc increase in revenue

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(ABRL) which operates supermarkets and hypermarkets under the brand , has posted losses in 2015-16.

Aditya Birla Retail posts Rs 649.42 cr loss despite 21 pc increase in revenue
The operator of More supermarkets, however, also reported a 21.3 per cent increase in sales in the previous financial year, despite losses due to high finance and borrowing costs

The operator of More supermarkets, however, also reported a 21.3 per cent increase in sales in the previous financial year, despite losses due to high finance and borrowing costs. Revenue grew to Rs 3,509.37 crore from Rs 2,893.41 crore a year ago.

The loss widened to Rs 649.42 crore in fiscal 2016 from Rs 5 71.14 crore in the previous fiscal, according to the company’s filings with the Registrar of Companies (RoC).

Aditya Birla Retail had a debt of about Rs 5,936 crore – mainly due to acquistions of Trinethra, Fabmall and Jubliant’s Total Super Store, while finance costs were Rs 417 crore during the year.