Aditya Birla Fashion & Retail posted 100 percent growth in net profit to Rs 70 crore for the third quarter of the financial year 2018-19, ending December 31, 2019, according to a PTI report. The company had posted a net profit of Rs 35 crore during the corresponding period last year.
Revenue for the quarter grew 23 percent to Rs 2,282 crore as compared to Rs 1,855 crore it posted during the same period last year. On year to year basis the EBITDA rose 28 percent to Rs 186 crore, the company said in its earnings announcement.
Madura’s business segment which consists of lifestyle brands Louis Philippe, Van Heusen, Allen Solly, Peter England and fast fashion brand Forever 21 and People, recorded 18 percent revenue growth at Rs 1,345 crore in Q3-FY 19 as against Rs 1,139 crore in Q3-FY 18.
Revenue of Pantaloons for the quarter under review grew by 28 percent to Rs 961 crore.
According to the company, lifestyle brands will continue its growth momentum, led by product innovation, network expansion, growth category expansion, and impactful marketing campaigns. Pantaloons’ growth will be accelerated with its continued focus on product enhancement, brand investments and expansion into newer markets.
“Fast Fashion segment will continue with its journey of business model improvement. Innerwear is expected to keep expanding its reach, riding on both men’s and women’s distinctive products. The International Brands will steadily build upon the existing brand portfolio,” the company said in a statement.
Aditya Birla Fashion & Retail has a network of 2,671 stores, approximately 16,000 multi-brand outlets and more than 4,300 points of sale in department stores across the country.