Aditya Birla Fashion Struggles With Increased Loss Amid Strategic Reorganization

Aditya Birla Fashion and Retail Ltd reported a net loss of Rs 214.70 crore for Q3 2024, an increase from last year's Rs 200.34 crore loss. The revenue grew to Rs 3,643.86 crore but was affected by higher expenses. The company is undergoing a strategic reorganization, including a de-merger into ABLBL.

Aditya Birla Fashion and Retail Ltd has reported a significant net loss of Rs 214.70 crore for the September 2024 quarter, marking an increase from the Rs 200.34 crore loss recorded in the same period last year, according to regulatory filings.

The company's revenue from operations saw an increase to Rs 3,643.86 crore, up from Rs 3,226.44 crore a year ago, despite being burdened by escalated expenses attributed to higher depreciation and interest costs.

The strategic reorganization involving the amalgamation of TCNS and the de-merger of its Madura segment into a new entity, ABLBL, was highlighted as a pivotal change. Furthermore, ABFRL's diverse array of brands continues to uphold growth, while shares fell by 2.16% to Rs 303.25 on the BSE.

(With inputs from agencies.)