ADITYA BIRLA FASHION Retail (ABFRL), on Monday, reported a consolidated net loss of ₹187 crore for the March quarter (Q4FY23), a first in nearly two years amid rising expenses, said analysts. The company's results trailed peers such as Shoppers Stop and Tata-backed Trent, both of whom swung into profit in Q4 of FY23.
Shares of ABFRL closed down 0.58% on the BSE on Monday to ₹189.95 apiece.
ABFRL's net loss is also wider than street estimates, pointing to bigger challenges for the retailer, said analysts, as it scouts for investment opportunities in apparel wear.
A poll of analysts by Bloomberg had pegged net loss for the March quarter at ₹59 crore. The company had reported a net profit of ₹44 crore a year ago.
This story is from the May 23, 2023 edition of Financial Express Mumbai.
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This story is from the May 23, 2023 edition of Financial Express Mumbai.
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