Aditya Birla Fashion & Retail posts 100% rise in Q3 net profit

Aditya Birla Fashion and Retail has reported a 100% increase in net profit to Rs 70 crore for the third quarter of the financial year 2018-19, ending December 31, 2019. During the corresponding period last year, the company had posted a net profit of Rs 35 crore.

The company's revenue grew 23% to Rs 2,282 crore as compared to Rs 1,855 crore it reported during the same period last year. The earnings before interest, tax, depreciation, and amortisation (EBITDA) rose 28% y-o-y to Rs 186 crore.

The company said in a statement, "Fast Fashion segment will continue with its journey of business model improvement. Innerwear is expected to keep expanding its reach, riding on both men’s and women’s distinctive products. The International Brands will steadily build upon the existing brand portfolio."

Aditya Birla Fashion and Retail has a network of 2,671 stores, approximately 16,000 multi-brand outlets and over 4,300 points of sale in department stores across India.