ABFRL Q1 results: Net loss rises to Rs 214.92 cr, revenue at Rs 3,427.82 cr

Aditya Birla Fashion and Retail Ltd on Wednesday reported a widening of consolidated loss after tax at Rs 214.92 crore in the first quarter ended June 30, 2024, impacted by higher expenses in a subdued consumption environment.

The company had posted a consolidated net loss after tax of Rs 161.62 crore in the same quarter last fiscal, Aditya Birla Fashion and Retail Ltd (ABFRL) said in a regulatory filing.

Consolidated revenue from operations stood at Rs 3,427.82 crore in the first quarter as against Rs 3,196.06 crore in the year-ago period, the company added.

Total expenses in the quarter were higher at Rs 3,724.89 crore as compared to Rs 3,458.02 crore in the year-ago period.

"Businesses continued to navigate through a subdued consumption environment which was further exacerbated by a prolonged heat wave and weak wedding season," the company said.

Net profit at a consolidated level was impacted due to continued investments in digital-first fashion brands TMRW and losses in premi