• ABFRL profit rises to Rs 113 crore in Q4

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Aditya Birla Fash­ion and Re­tail (ABFRL), the fash­ion divi­sion of the Aditya Birla Group saw a surge in its profit wit­ness­ing a five-fold jump to Rs 113 crore (ap­prox $ 16.8 mil­lion) for the quar­ter ended March 2018, as com­pared to Rs 22 crore (ap­prox $ 3.3 mil­lion). The to­tal rev­enue of the firm for the quar­ter was Rs 1764 crore (ap­prox $ 261.7 mil­lion) as com­pared to Rs 1642 crore (ap­prox $ 243.6 mil­lion) it posted dur­ing the same pe­riod of last year. ABFRL’S board also ap­proved the pro­posed fund raise of up to Rs 1,000 crore (ap­prox $ 148.3 mil­lion) through is­suance of eq­uity shares and/or any other se­cu­rity/ fi­nan­cial in­stru­ment con­vert­ible into eq­uity shares. The com­pany also said that it plans to open 350 new stores (across var­i­ous for­mats) dur­ing the cur­rent fis­cal.

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