Aditya Birla Fashion and Retail Ltd has announced its financial results for the fourth quarter of the fiscal year ending March 2024, revealing a widened net loss of Rs 266.35 crore. This marks a significant increase from the net loss of Rs 194.54 crore reported during the same quarter last year. The company’s revenue from operations also saw growth, reaching Rs 3,406.65 crore in the latest quarter compared to Rs 2,879.73 crore in the year-ago period.
The consolidated financial results for the quarter ended March 31, 2024, are stated to be ‘not comparable with previous quarters’ due to the acquisition of TCNS Clothing and Styleverse Lifestyle. Despite challenges and market headwinds, Aditya Birla Fashion and Retail expressed a commitment to enhancing profitability across its established businesses.
Revenue breakdown from various segments showed a positive trend, with ‘Madura Fashion & Lifestyle’ segment reporting revenues of Rs 1,861.75 crore, Pantaloons contributing Rs 895.03 crore, and the Ethnic and Others business bringing in Rs 712.43 crore. Notably, the Reebok segment marked a 29% growth this quarter, achieving a revenue milestone of over Rs 450 crore within its first full year of operations under the company.
The company’s strategic move to de-merge the Madura business into a separate entity, Aditya Birla Lifestyle Brands Ltd, aims to create two distinct growth engines with a focused capital allocation strategy for maximizing shareholder returns. As of March 2024, Aditya Birla Fashion and Retail operates a vast network of 4,664 stores and over 37,000 multi-brand outlets, solidifying its presence in the Indian retail landscape.
Despite the widened net loss for Q4, the company’s long-term vision is geared towards building strong brands, fostering consumer engagement, and adapting to market shifts with flexibility and agility. With a portfolio of renowned brands and international labels, Aditya Birla Fashion and Retail continues to navigate the competitive retail space, emphasizing growth opportunities and value creation for shareholders. Shares of the company closed at Rs 285.65 on the BSE, reflecting market sentiment towards its performance and future prospects.
