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Aditya Birla Fashion and Retail’s Net Loss Worsens

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Aditya Birla Fashion and Retail’s net loss worsened in the fiscal year ending March 31, despite higher revenue. The company’s full-year net loss reached 7.36 billion rupees (US$88.3 million), while revenue rose by 12.7% to 139.96 billion rupees.

All segments, including Madura Fashion and Lifestyle, Pantaloons, and Ethnic and Other, saw annual revenue growth. During the fiscal year, the company acquired a 51% stake in Styleverse Lifestyle and increased its stake in Indivinity Clothing Retail to 85.54%. The board also approved the demerger of Madura Fashion and Lifestyle.

In the fourth quarter, the company’s net loss widened to 2.66 billion rupees, while revenue grew by 18.3% to 34.07 billion rupees.