August 10, 2022

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ABFRL Records 39 Per Cent Revenue Growth In Q1

ABFRL Records 39 Per Cent Revenue Growth In Q1

Aditya Birla Fashion and Retail Limited (ABFRL) recorded its highest ever Quarter 1 sales. This is attributed to the growing consumer growth and loyalty which lead to traffic growth in businesses and channels.

The firm clocked a 39 per cent growth in its revenue to reach Rs. 2875 Crores. The consolidated EBITDA for the quarter was at Rs. Rs. 500 Crore. A 51 per cent growth in EBITDA was recorded across the categories, due to an overwhelming performance as compared to the pre-pandemic times. 

The firm continued to expand across markets and brands, specifically in small towns. These areas showed promising results with a network of more than 500 stores. 

Additionally, the firm-led subsidiary Pantaloons also launched new private label brands to cater to evolving consumer needs. The reasons attributed to this growth are an acceleration in e-commerce and the omnichannel play which went hand in hand. The e-commerce sales saw an YoY surge of about 56 per cent and the omni-channel network expanded to more than 1600 stores. 

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In a public statement, the firm said, “Improved consumer confidence, value migration to the organised sector, and robust omnichannel presence led to strong growth and improved profitability. We expect this momentum to continue in upcoming quarters, with a further boost during the festive season. ABFRL will continue to invest in strengthening our brand propositions and drive sales via both physical and online stores. We are confident of the long-term prospects of the Indian Apparel sector and remain focused on delivering strong, consistent, profitable growth.”

Doonited Affiliated: Syndicate News Hunt

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