Aditya Birla Fashion and Retail (ABFRL) posted a consolidated net profit of Rs 5 crore in Q2 FY22 as against a net loss of Rs 188 crore registered in Q2 FY21.
Consolidated revenue in Q2 FY22 doubled year on year to Rs 2054 crore from Rs 1,028 crore registered in Q2 FY 21. Revenue recovery was 90% over pre-COVID levels of Q2 FY20. Consolidated profit before tax stood at Rs 8.77 crore in Q2 FY22 as against a pre tax loss of Rs 250.88 crore posted in Q2 FY21.Revenue from Lifestyle more than doubled year on year. The revenue saw 92% recovery compared to pre-COVID levels. Pantaloons grew 80% over the previous year with a slower recovery owing to a larger share of mall stores that had prolonged restrictions.
Consolidated EBITDA jumped 148.5% to Rs 338 crore in Q2 FY22 from Rs 136 crore posted in Q2 FY21. ABFRL said that the EBITDA performance has been driven by robust demand recovery and tight control on costs. E-commerce sales continued to grow rapidly. EBITDA margin improved to 16.4% in Q2 FY22 from 13.2% in Q2 FY21 and 15.4% in Q2 FY20.
In its future outlook, ABFRL said, The company will accelerate its growth trajectory now, driven by aggressive expansion in the product portfolio, entry into newer consumer segments and network expansion, both in existing and newer markets. Given the underlying business fundamentals, the enhanced digital capabilities and the balance sheet strength, the company is well poised to embark on a new wave of growth and create value for all stakeholders.
The company said its debt has reduced from Rs 1200 crore in Q1 FY22 to Rs 873 crore by the end of Q2 FY22. Despite aggressive growth plans across brands and channels, the company expects debt to stay range bound at these levels for the year.
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.
Shares of Aditya Birla Fashion and Retail fell 0.38% to Rs 287.05 on BSE.
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