Aditya Birla Fashion and Retail (ABFRL) reported consolidated net profit of Rs 29.42 crore in Q2 FY23, steeply higher than Rs 5.09 crore posted in Q2 FY22.
Revenue from operations jumped 50% to Rs 3,074.61 crore in Q2 FY23 as against Rs 2,054 crore in the same quarter last year. The company said that it has achieved its highest quarterly revenues in Q2 FY23 and 33% growth over pre-covid levels.Profit before tax (PBT) surged 171.27% year on year to Rs 23.79 crore in the quarter ended 30 September 2022.
The company's revenue from Lifestyle rose 45.51% to Rs 2,018.56 crore while Pantaloons revenue jumped 64.42% to Rs 1093.74 crore in Q2 FY23 over Q2 FY22. The company said that it was the best quarter for branded portfolio under Lifestyle while Pantaloons business achieved highest-ever quarterly revenues, mainly led by sharp markdown reductions and better value realisations.
Consolidated EBITDA grew 24% to Rs 418 crore in Q2 FY23 as compared to Rs 338 crore in Q2 FY22, led by robust performance across business segments. However, EBITDA margin declined to 13.6% as on 30 September 2022 as against 16.34% as on 30 September 2021.
In its future outlook, ABFRL said, Driven by a buoyant demand outlook and an encouraging start to the festive season, ABFRL remains optimistic about the overall consumption of fashion products for the rest of the year. Accelerated urbanization, sustained income growth and the need for a sophisticated shopping experience augur well for ABFRL's portfolio of brands.
The company in its filing said that robust like-to-like and consistent e-commerce performance have been key drivers of growth in the quarter. The period also saw an increase in marketing investments post a hiatus of more than two years since COVID, as the company reinvigorated its focus towards brand building and strengthening consumer connect.
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The company's net debt has been reduced to Rs 243 crore in Q2 FY23 from Rs 504 crore in Q1 FY23.
ABFRL is part of a leading Indian conglomerate, the Aditya Birla Group. It is India's first billion-dollar pure-play fashion powerhouse with an elegant bouquet of leading fashion brands and retail formats.
The scrip declined 6.67% to end at Rs 328.95 on the BSE.
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