ABFRL, a leading fashion and lifestyle retailer, reported its financial results for the fourth quarter of fiscal year 2023-24 (Q4FY24), ending on March 31, 2024.
Key Financial Highlights:
Revenue: ₹3,406.65 Crore (18.30% YoY increase)
Operating Profit: ₹-171.71 Cr. (10.30% decrease YoY)
Profit After Tax (PAT): ₹-229.57 Cr. (22.80% decrease YoY)
Operating Margin: -5.04% (compared to -6.76% in Q4FY23)
Key Points:
Revenue Growth: ABFRL achieved an 18.30% year-on-year (YoY) increase in revenue, reaching ₹3,406.65 crore in Q4FY24.
Operating Loss: The company reported an operating loss of ₹171.71 crore, a slight decrease compared to the same period last year.
Net Loss: The net loss widened to ₹229.57 crore, primarily due to higher expenses and a one-time impairment charge.
Margin Improvement: Despite the losses, ABFRL managed to improve its operating margin to -5.04% from -6.76% in Q4FY23.
Overall Performance and Future Outlook:
While the company's Q4FY24 results show a mixed picture with revenue growth but increased losses, ABFRL remains optimistic about its future prospects. The company continues to focus on:
Growth of New Businesses: Ethnic businesses, Reebok, and TMRW's portfolio have shown promising growth.
Cost Control Measures: The company is actively implementing cost control initiatives to improve profitability.
Strengthening Brand Portfolio: ABFRL is focusing on expanding its brand portfolio and enhancing its online presence.
De-merger of Madura Business: The company recently announced the de-merger of its Madura business into a separate entity, Aditya Birla Lifestyle Brands Limited (ABLBL).
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