Aditya Birla Fashion & Retail Ltd's Q3FY19 standalone net profit rises 101.8% yoy to Rs70cr : Beats Estimates

The company’s standalone revenue stood at Rs2,282cr, up 23% yoy and 13.7% qoq.

Feb 04, 2019 04:02 IST India Infoline Research Team

Aditya Birla Fashion & Retail Ltd Q3FY19

Standalone Results Q3FY19: (Rs. in cr)

Q3FY19 YoY (%)
Revenue 2,282 23.0
EBITDA 172.93 25.1
EBITDA Margin (%) 7.6 13
Net Profit (adjusted) 70.25 101.8
***EBITDA margin change is bps

ABFRL’s revenue grew by 23% yoy and 13.7% qoq to Rs2,282cr. EBITDA came in at Rs173cr, up 25.1% yoy and 21.1% qoq. EBITDA margin expanded by 13bps yoy and 47bps qoq basis to 7.6%. Adjusted Net profit came at Rs70cr, up 101.8% yoy and 64.4% qoq. Revenue and Adjusted Net profit came higher than the expectation of Rs2,170cr and Rs63cr respectively.

• Revenue was driven by growth of Pantaloons segment, which grew by 28.4% yoy to Rs961cr.
• Sales from Madura segment grew by 18.1% yoy to Rs1,345cr.
• Combined footprint grew to 7.4mn sq ft from 6.8mn sq ft yoy.
• Cost of goods sold stood at 50.1% of revenue vs. 46.6% yoy.
• Other expenses stood at 18.8% of revenue vs. 20.3% yoy leading to EBITDA margin expansion.
• Rent expenses stood at 13.2% of revenue vs. 14.4% yoy to Rs301cr.
• EBIT margin for Madura Fashion & Lifestyle and Pantaloons segment stood at 4.96% and 5.63% (vs. 4.34% and 3.92% yoy) respectively.
• Other income stood at Rs13cr, up 90.5% yoy.

Technical View:

Aditya Birla Fashion & Retail Ltd ended at Rs. 207.30, down by 1.15 points or 0.55% from its previous closing of Rs. 208.45 on the BSE.
The scrip opened at Rs. 211 and touched a high and low of Rs. 211.40 and Rs. 204.15 respectively. A total of 10,50,181 (NSE+BSE) shares were traded on the counter. The stock traded below its 50 DMA.

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