Aditya Birla Fashion shares tank 6% on Q4 loss

Shares of Aditya Birla Fashion and Retail today slumped 6 per cent after the company reported a net loss of Rs 109.82 crore on standalone basis for the January-March quarter of 2015-16.
The stock tumbled 6.07 per cent to settle at Rs 137.75 on BSE. During the day, it dipped 7.19 per cent to Rs 136.10.
On NSE, it fell by 6 per cent to end at Rs 137.80.
On the volume front, 2.21 lakh shares of the company changed hands at BSE and over 10 lakh shares were traded at NSE during the day.
Aditya Birla Fashion and Retail (ABFRL), formerly known as Pantaloons Fashion, yesterday reported a net loss of Rs 109.82 crore on standalone basis for the January-March quarter of 2015-16 against a loss of Rs 63.78 crore in the same period a year-ago.

Besides, the company's board approved acquisition of online and offline rights of global brand Forever 21 for the Indian market.
ABFRL reported net sales of Rs 1,430.99 crore during the quarter under review against net sales of Rs 450.51 crore in the same quarter of previous fiscal.
Meanwhile, the company said its results are not comparable as Aditya Birla Nuvo and another group firm Madura Garments Lifestyle Retail Ltd were merged into listed firm Pantaloons Fashion.