Aditya Birla Fashion and Retail net profit rises over threefold to Rs 21.56 crore in June quarter

Aditya Birla Fashion and Retail Ltd on August 6 reported over threefold jump in its net profit to Rs 21.56 crore for the first quarter ended June 30.

The company had posted a net profit of Rs 5.60 crore in the June 2018 quarter, Aditya Birla Fashion and Retail Ltd (ABFRL) said in a statement.

Its net sales rose 7.94 percent to Rs 2,065.46 crore during the quarter, compare with Rs 1,913.52 crore in the corresponding quarter of the previous financial year.

ABFRL's total expenses were at Rs 2,047.83 crore as against Rs 1,916.39 crore, up 6.85 percent.

Its revenue from the Madura business segment increased 9.62 per cent to Rs 1,210.35 crore as against Rs 1,104.06 crore.

The Madura business segment comprises lifestyle brands Louis Philippe, Van Heusen, Allen Solly and Peter England and fast fashion labels Forever 21 and People.

While Pantaloons' revenue was also up 9.48 per cent to Rs 889.57 crore as against Rs 812.54 crore.

Shares of Aditya Birla Fashion and Retail Ltd on August 6 settled at Rs 200.10 on BSE, up 6.52 percent from previous close.