ABFRL posts record performance in a muted market, Q3 PBT grows 58%
By Retail4Growth Team | February 07, 2020
The Company also reported a 22% jump in EBITDA to post its highest-ever quarterly EBITDA of Rs 227 crore, with reported EBITDA at Rs 424 crore.
Aditya Birla Fashion and Retail on Thursday has announced that the company posted a record performance in Q3 FY20 despite the economic slowdown and tepid consumer sentiment. For the third quarter, sales grew by a robust 12% to Rs 2562 crore from Rs 2282 crore in Q3 FY19.
The Company also reported a 22% jump in EBITDA to post its highest-ever quarterly EBITDA of Rs 227 crore, (comparable basis) with reported EBITDA (post Ind AS 116) at Rs 424 crore. PBT of the Company on a comparable basis soared by 58% to Rs 111 crore vs Rs 70 crore in the same quarter last year.
For the year till date of this fiscal, the Company recorded sales growth of 12% at Rs 6925 crore. The comparable EBITDA for the period grew by 19% to Rs 561 crore with margins expanding from 7.6% in YTD FY19 to 8.1% in YTD FY20. During this period, the Company posted 88% increase in its comparable PBT at Rs 223 crore from Rs 119 crore last year.
As the Company has moved to a lower corporate tax regime, it recorded a one-time tax impact of Rs 106 crore for the quarter (Rs 130 crore for nine months). Excluding this one-time impact, the comparable PAT would have been Rs 86 crore for the quarter and Rs 179 crore for nine months. The transition to the new corporate tax regime should improve cash flows for the next 2 years.
Madura segment recorded 14% growth in revenue in Q3 FY20 at Rs 1532 crore as compared to Rs 1345 crore in the same period last year, with a 14% growth in comparable EBITDA from Rs 101 crore in Q3 FY19 to Rs 114 crore in Q3 FY20.
Pantaloons continue its sustained performance with yet another quarter of outstanding results. The business recorded revenues of Rs. 1083 Cr. for the quarter, a 13% growth over last year, which is on the back of 28% growth recorded during same period last year. Pantaloons continue to drive strong improvement in its profitability, achieving highest ever EBITDA of Rs 109 crore, with margins of 10.1% for the quarter. For YTD FY20, Pantaloons delivered a 13% growth in sales to report Rs. 2888 crore, with EBITDA margins expanding from 8.5% last year to 9% this year.
