ABFRL reports net loss of Rs 109 crores for Q4

A net loss of Rs 109.82 crores was reported by Aditya Birla Fashion and Retail (ABFRL) for the January-March quarter of 2015-16 against a loss of Rs 63.78 crores in the same period last year. ABFRL was formerly known as Pantaloons Fashion. Also, the company’s board today approved acquisition of online and offline rights of global brand Forever 21 for the Indian market.

ABFRL reported net sales of Rs 1,430.99 crores during the quarter under review against net sales of Rs 450.51 crores in the same quarter of previous fiscal. However, these figures, as per the company, are not comparable because Aditya Birla Nuvo and of another group firm Madura Garments Lifestyle Retail Ltd were merged into listed firm Pantaloons Fashion.

For 2015-16 alone, ABFRL had a net loss of Rs 104.14 crores. It had a net loss of Rs 228.14 crores in the previous fiscal. Its net sales were at Rs 6,017.80 crores in 2015-16 against Rs 1,816.88 crores in 2014-15.