• ABFRL profit rises to Rs 113 crore in Q4
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.