In a recent announcement made by retail arm of Aditya Birla Group, Aditya Birla Fashion and Retail Limited (ABFRL) said that it made a net profit of a whooping 7.43 crore for the third quarter ended December 31, 2015.
Overcoming a net loss of 42.78 cr in the same quarter last year, the company has nabbed a three-fold hike in its sales to 1,616.93 cr in the quarter comparing to that of last year which was around 441 cr, said the ABFRL in its BSE filing.
The holding group merged all of its apparel business into one entity i.e. ABFRL through an all-share deal in May last year.
The new unit now claims an overall turnover of 5,290 cr and has a robust retail network of around 1,800 retail touch-points across the country. This made the retail giant the largest pure play fashion retailer of the country.
As per the scheme of arrangement, the apparel businesses of group holding company Aditya Birla Nuvo and of another group firm Madura Garments Lifestyle Retail Ltd was demerged into listed firm Pantaloons Fashion & Retail Ltd (PFRL).