Aditya Birla Fashion and Retail (ABFRL) reported a 51 percent jump in its earnings before interest, tax, depreciation and amortisation (EBITDA) at Rs 253 crore for the fourth quarter ended March (Q4) as against Rs 167 crore in the corresponding period last year.
The company revenue in Q4 stood at Rs 1822 crore, marginally below Rs 1832 crore from a year ago. Its net loss stood at Rs 196 crore in Q4 as compared to Rs 147 crore net loss during the corresponding period last year. However, the company informed this included a one-time tax impact of about Rs 109 crore.
Jagdish Bajaj, CFO, Aditya Birla Fashion and Retail informed that the company received the infusion of Rs 1500 crore by way of a preferential issue to Flipkart and a Rs 250 crore partial payment of rights issue.
Overall, the company has reduced its debt from Rs 2,511 crore to Rs 654 crore through a mix of operating cash flows and equity infusion during the year. It also rationalised over Rs 1,200 crore of costs during the year to mitigate the impact of Covid on profitability.