Aditya Birla Fashion and Retail (ABFRL) reported a 51 per cent increase in its pre-interest rate, tax, depreciation and rebate (EBITDA) at Rs 253 crore in the fourth quarter of March (Q4) compared to Rs 167 crore in the previous year.
The company’s revenue in Q4 stood at Rs 1822 crore, slightly below Rs 1832 crore since last year. Its net loss is Rs 196 crore in Q4 compared to the net loss of Rs 147 crore over the same period last year. However, the company has announced this includes a one-time tax effect of Rs 109.
Jagdish Bajaj, CFO, Aditya Birla Fashion and Retail have announced that the company has received a cash prize of Rs 1500 million with a special release from Flipkart and the payment of a portion of the Rs 250 crore rights.
Also read : Motivation, rapid hospitality, MSME, real location and construction are possible
Overall, the company has reduced its debt from Rs 2,511 crore to Rs 654 crore through a combination of cash flows and equity deposits during the year. It also estimated more than $ 1,200 a year to reduce Covid’s impact on profits.
According to the company, it was on its way to recovery during the quarter, however, the second wave hit it again. Currently, the company has notified only 15 percent of all its stores operating due to local closures.
“As of today, in a total network of 3212 stores, approximately 419 stores are operational from May 25,” the company informed while reporting its results for the fourth quarter.
“We are also in talks with shopkeepers and property owners to look into rental costs due to the new outbreak of the virus,” Bajaj informed.
Also read : RBI Annual Report: Allocation of Rs 2,000 Distributed Notes falls to FY21
The company now expects to see recovery in the second quarter of FY22 when the holiday season begins.
ABFRL, with brands such as Louis Philippe, Van Heusen, Allen Solly, and Peter England as well as Pantaloons stores, has a network of 3,212 stores in 31,000 stocks with 6,835 points sold in supermarkets across India.
