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Mixed bag for Aditya Birla Retail

Losses narrowed to Rs 21 crore compared with a loss of Rs 68 crore in the year-ago period

Cotton and tusser products by women weave at the exhibition
Cotton and tusser products by women weave at the exhibition

It has been a mixed bag for Aditya Birla Fashion & Retail, earlier known as Pantaloons Fashion & Retail, in the first quarter of the current financial year. While its larger unit Madura Fashion & Lifestyle, which retails brands such as Louise Philippe and Van Heusan, saw dip in net sales and EBIDTA, its department chain Pantaloons seems to be inching closer to profitability four years after it was acquired from Kishore Biyani's Future group. At the overall level, losses at ABFL narrowed to Rs 21 crore in Q1 FY17 as compared to a loss of Rs 68 crore in Q1 FY16. Revenues went ...