Never miss a great news story!
Get instant notifications from Economic Times
AllowNot now


You can switch off notifications anytime using browser settings.
11,921.50-96.9
Stock Analysis, IPO, Mutual Funds, Bonds & More

Aditya Birla Fashion & Retail Q2 profit falls 30% to Rs 30 crore

The retailer that sell brands such as Pantaloons, Louis Philippe and Allen Solly, said it had revenues of Rs 2297 with net profit of Rs 30 crore.

, ET Bureau|
Updated: Nov 12, 2019, 09.06 PM IST
0Comments
Getty Images
Earnings3-Getty-1200
Bengaluru: Aditya Birla Fashion and Retail (ABFRL) on Tuesday posted a 30% fall in net profit due to higher tax this quarter even as sales rose 14% for the second-quarter ended September.

The retailer that sell brands such as Pantaloons, Louis Philippe and Allen Solly, said it had revenues of Rs 2297 with net profit of Rs 30 crore.

"We have shown all-round improvement amidst reluctantly tough times. A combination of geographical expansion, product portfolio expansion, category innovation and increased advertising spend drove the sales,” said Ashish Dikshit, managing director, ABFRL adding that the overall market outlook remained cautious.

The company's Lifestyle division expanded 15% driven by women’s wear and kids wear, and aggressive expansion of Peter England brand in small town format. Pantaloons division reported a 16% increase in revenue. The company has also approved raising funds of Rs 500 crore through non-convertible debentures on a private placement basis.
Comments
Add Your Comments
Commenting feature is disabled in your country/region.
Download The Economic Times Business News App for the Latest News in Business, Sensex, Stock Market Updates & More.

Other useful Links


Follow us on


Download et app


Copyright © 2019 Bennett, Coleman & Co. Ltd. All rights reserved. For reprint rights: Times Syndication Service