Aditya Birla Fashion zooms 20% post Q1 results

Aditya Birla Fashion and Retail (ABFRL) has zoomed 20% to Rs 169 on the BSE in intra-day trade after the company reported net profit of Rs 60 million in June quarter (Q1FY19) on back of strong operational performance. The Aditya Birla Group Company had a net loss of Rs 200 million in the same quarter year ago.

The Company reported a remarkable 50% increase in EBITDA (earnings before interest, tax, depreciation and amortization) at Rs 1.22 billion along with revenue growth of 8% at Rs 19.14 billion for the quarter over the previous year. EBITDA margin improved to 6.4% from 4.6% during the quarter.

The company said the outlook for the year is positive as all of ABFRL’s major brands have a well charted growth path.

Lifestyle brands, through innovative product lines and brand strengthening initiatives, will continue to grow. Pantaloons, with its focus on new store additions and improved price value equation, will continue to grow profitably. The Company will continue to build its portfolio in Casual wear, Women’s Fast Fashion and super premium segments to complement its existing strong portfolio, it added.

At 02:22 pm; the stock was trading 13% higher at Rs 159 on the BSE, as compared to 0.15% decline in the S&P BSE Sensex. The trading volumes on the counter jumped more than 70-fold with a combined 7.75 million equity shares changed hands on the BSE and NSE so far.