Mumbai (Maharashtra) [India], July 30 (ANI): Aditya Birla Fashion and Retail Ltd (ABFRL) on Friday reported a consolidated loss of Rs 352 crore in the quarter ended June as compared to a loss of Rs 410 crore in the year-ago period despite a phenomenal rise in revenues.
The revenue in Q1 FY22 totalled Rs 812 crore, up from Rs 323 crore in Q1 FY21. This was largely due to higher number of operational days and continued aggression on e-commerce.
Still, said the company, Q1 sales recovery was impacted by unprecedented disruption on account of localised lockdowns caused by fresh waves of Covid infections.
In terms of recovery, this amounted to 40 per cent of pre-Covid base of Q1 FY20. However, small-town formats continue to show promising results.
ABFRL recorded consolidated earnings before interest, tax, depreciation and amortisation (EBITDA) of negative Rs 145 crore due to lesser fixed cost rebates, rise in variable costs in line with sales and normalisation of employee benefit expenses.
As vaccination progresses rapidly across the country, the company expects a consumption rebound, leading to strong recovery of business at the back of a digitally enhanced play and a comprehensive portfolio of brands.
The company has a network of 3,216 stores across 26,000 multi-brand outlets with 6,800 points of sale in department stores across India.
It has a repertoire of market-leading brands such as Louis Philippe, Van Heusen, Allen Solly and Peter England established for over 25 years. Pantaloons is one of India's largest value retail brand. (ANI)