Aditya Birla Fashion and Retail Limited (ABFRL) has reported a six-fold jump in net profit to Rs 39 crore during the quarter ended June. The rise in profit is helped due to the lower base in the base quarter and higher revenues from premium brands.
During the first quarter, the retailer's net sales grew 8% to Rs 2065 crore. The company posted a net profit of Rs 6 crore on revenues of Rs 1914 crore a year ago.
While ABFRL’s Madura division expanded 10% to Rs 1210 crore, Pantaloons segment posted a 9.5% rise in revenue at Rs 890 crore. Its Madura division includes brands like Louis Philippe, Van Heusen and Allen Solly.
Ashish Dikshit, Managing Director of ABFRL, said, "We saw strong growth across segments. While consumer demand saw pressure at an overall economy standpoint, the migration from unorganised to branded continued and helped us grow in a tough market."
The company runs a network of more than 2,800 stores. Its earnings before interest, tax, depreciation and amortization (EBITDA) rose 28% to Rs 156 crore with margin expansion of 120 basis points.