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Net loss of Rs 266 crore for Aditya Birla Fashion in Q4 increases, while revenue sees an 18% rise
In the fourth quarter ending in March 2024, Aditya Birla Fashion and Retail Ltd announced a combined net loss of Rs 266.35 crore. According to a regulatory filing from ABFRL, the company had reported a net loss of Rs 194.54 crore in the January-March quarter of the previous year.
On May 28, Aditya Birla Fashion and Retail Ltd. announced a net loss of Rs 266.35 crore in the March quarter of FY24, which increased by 37 percent compared to Rs 194.54 crore in the previous year.
In a regulatory filing, the retail major reported that the company's total revenue increased by 18.29 percent to Rs 3,406.65 crore from Rs 2,879.73 crore last year.
EBITDA of Rs 283.7 crore in the quarter rose by 47.1 percent. The EBITDA margins have increased by 8.3 basis points compared to the previous year, which had a 6.7 basis points increase.
The Aditya Birla group firm stated that " the financial results for the quarter" ending on March 31, 2024, are not directly comparable to prior quarters due to the acquisition of TCNS Clothing and Styleverse Lifestyle.
In the March quarter, its expenses totaled Rs 3,813.87 crore.
ABFRL stated in their earnings report that the established companies are still managing market challenges and are focused on improving profitability.
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