India’s largest manufacturing and retail branded fashion apparel firm and a part of Aditya Birla Group, Aditya Birla Fashion and Retail Limited (ABFRL) on Thursday reported a consolidated net loss of Rs. 410 crore for quarter ended June.
The company had registered a net profit of Rs. 22 crore in the corresponding quarter of last year.
While the total income during the quarter under review was at Rs. 502 crore, the company had impressively stood at Rs. 2,083 crore last year.
ABFRL stated that the COVID-19 pandemic hugely affected its operations.
The June quarter has been one of the most challenging not only for the firm, but also for the entire Indian apparel industry, it further added.
All said and done, ABFRL is positive about the company’s business performance over the next two quarters and looks forward to reaching a better place by the fourth quarter of FY2021.
Source : https://in.apparelresources.com/