Aditya Birla Fashion and Retail posts 14 pc growth in Q2 sales

Mumbai (Maharashtra) [India], Nov 12: Aditya Birla Fashion and Retail on Tuesday posted 14 per cent growth in sales to Rs 2,297 crore during the second fiscal quarter accompanied by 10 per cent growth in earnings before interest, tax, depreciation and amortisation (EBITDA) to Rs 177 crore this year on a comparable basis.

At the same time, reported EBITDA (post Ind AS 116) for the quarter was Rs 362 crore while the comparable net profit for Q2 FY20 totalled Rs 30 crore. For the first half of this fiscal, the company recorded sales growth of 11 per cent at Rs 4,363 crore. The comparable EBITDA for the period grew by 18 per cent to Rs 334 crore with margins expanding from 7.2 per cent in H1 FY19 to 7.6 per cent in H1 FY20.

During the period, the company posted 132 per cent increase in its comparable profit before tax at Rs 112 crore from Rs 48 crore last year. The comparable net profit for the period was Rs 70 crore.

The Madura segment recorded 16 per cent growth in revenue in Q2 FY20 at Rs 1,463 crore as compared to Rs 1,263 crore in the same period last year with a 20 per cent growth in comparable EBITDA.

Pantaloons too recorded a 16 per cent growth on the back of strong LTL of more than 10 per cent and rapid store expansion despite difficult market conditions. Pantaloons segment reported revenue of Rs 915 crore for the quarter as against Rs 787 crore in Q2 FY19.

Aditya Birla Fashion and Retail is India’s largest pure-play fashion and lifestyle company with a strong bouquet of leading fashion brands and retail formats. The company has a network of 2,875 stores and presence across 22,000 multi-brand outlets with more than 5,400 points of sales in department stores across India.

The post Aditya Birla Fashion and Retail posts 14 pc growth in Q2 sales appeared first on Digpu News Network.

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