Aditya Birla Fashion and Retail Ltd.’s revenue grew by 11% YoY and the growth was led by network expansion and category expansion. Its Ebitda, however, de-grew by 38% YoY owing to negative operating leverage, led by the subdued performance of Pantaloons business and continued investment in TMRW and ethnic business.
This impacted Aditya Birla Fashion’s profit after tax and saw a decline of 271% YoY. The management highlighted that discretionary spends continues to remain under pressure and has not seen any meaningful recovery.
However, it expects demand to revive in H2 FY24, led by strong festive and wedding seasons.