Profit before tax (PBT) stood at Rs 23.79 crore in the quarter ended December 2022, sliding 93.53% YoY.
The company's revenue from Lifestyle grew 18% YoY to Rs 1,873 crore on the back of 5% LTL growth. Pantaloons revenue grew 9% YoY to Rs 1,159 crore, achieving its highest quarterly sales despite a challenging environment post the festive season.
Consolidated EBITDA de-grew 23% to Rs 467 crore in Q3 FY23 as compared to Rs 609 crore in Q3 FY22. EBITDA margin declined to 13% as on 31 December 2022 as against 20.4% as on 31 December 2021.
In its future outlook, ABFRL said, “The long-term outlook for the company continues to be positive owing to normalization of offline businesses, proliferation of e-commerce, continued penetration for organized and branded apparel at the back of the strength of our brands. With multiple growth drivers at play, ABFRL is strategically positioned to capitalize, having firmly established its presence across multiple categories, segments, channels and price points.”
The company in its filing said that growth in the quarter was primarily driven by strong like-to-like across its branded business and consistent performance in e-commerce. The quarter also saw accelerated marketing investments post a hiatus of 2 years across businesses as the company reinstated its rigor on augmenting its brands and building customer engagement. Net profits for the quarter were impacted by around 2.3 times increase in marketing and strategic investments in new ventures.
The company's Branded business network gained 245 stores including newly integrated Reebok stores. Ethnic business added 15 new stores while network of small-town format within Lifestyle brands now stands at more than 550 stores and Pantaloons added 10 new stores to the network.
ABFRL is part of a leading Indian conglomerate, the Aditya Birla Group. It is India's first billion-dollar pure-play fashion powerhouse with an elegant bouquet of leading fashion brands and retail formats.
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