Improved operating performance

11 Mar 2024
5 Min read 
  • Aditya Birla Fashion and Retail (ABFRL) reported improved operating performance in 3QFY24.
  •  Consolidated EBITDA grew 27% YoY, driven by healthy revenue growth and margin expansion.
  •  Net loss widened due to higher depreciation and finance costs from store expansion.
  •  Pantaloons and discontinuation of unprofitable channels in Madura had a positive impact.
  •  Investments in new businesses and inventory streamlining could pressure earnings in the next 4-6 quarters.
  •  ABFRL plans to increase store count for Tasva and targets 10-12% revenue growth for existing businesses.
  •  Retain Neutral rating with a target price of INR260.
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