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