Pantaloons Q4 net loss narrows to Rs 63.78 crores
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In 2014-15, Pantaloons’ net losses were at Rs 228.14 crores compared with Rs 187.73 crores in 2013-14. Pantaloons’ net sales in 2014-15 stood at Rs. 1,816.88 crores against Rs 1,628.62 crores in 2013-14.
Kumar Mangalam Birla-led Aditya Birla Group recently announced merger of its two retail arms — the Aditya Birla Nuvo-owned fashion retailing business with Pantaloons Fashion & Retail. The merger has led to the launch of Rs 12,000 crores branded apparel entity called Aditya Birla Fashion & Retail (ABFRL). Now Madura Fashion, the branded apparel retailing division, and Madura Lifestyle, the luxury branded apparel retailing of Aditya Birla Nuvo, will be demerged into its listed subsidiary — Pantaloons Fashions and Retail (PFRL).