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Aditya Birla Fashion and Retail on Monday reported a consolidated net profit of Rs 58.55 crore for the quarter ended December. The company had posted a net loss of Rs 37.64 crore in the corresponding period of the previous fiscal, as per a PTI report.

Total income stood at Rs 2,133.14 crore for the quarter under consideration, down 17.87 per cent as against Rs 2,597.34 crore for the same period year ago, Aditya Birla Fashion and Retail said in a BSE filing.

The company said Q3 saw a significant acceleration of business recovery along sequential quarters; consumers started coming back to stores and continued to buy more online due to buoyant festive mood and visibility of a declining infection spread.

The pace and extent of recovery that started with the opening of stores in Q2 was amplified on the back of a large pent up demand, strong festive spirit and a concentrated wedding season, the company added.

The company said it is confident that the business recovery will continue as the impact of the pandemic wears down over the next few quarters and expects to resume its consistent growth trajectory next year.

“The company remains focused on leveraging its strong brand portfolio, evolving its product profile in line with changing consumer preferences, and expanding its reach.

“On the business front, a sharp focus on cost and a persistent control on leverage will continue to guide its business model, going forward. The company, therefore, is poised to emerge stronger from the pandemic,” the company said.

Shares of Aditya Birla Fashion and Retail in late afternoon trade declined 1.20 per cent to Rs 164.70 apiece on BSE.

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Explaining the relevance, Sanjay Vakharia, Chief Executive Officer, Spykar Lifestyle says, “As we all know, India is a country with a population that has relatively meager resources, and hence to them, it is important that retailers provide solutions which are more value for money and relatively long lasting and ones which need low maintenance. On all these attributes, denims score very high. They need not be washed as much and as many times; they never die, just fade, and last really long. And in recent times, the category and the industry has also initiated multiple initiatives to conserve resources and contribute to a healthier and less polluted planet. It seems that jeans are here to stay, due to the versatility they offer.”

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Highlighting another interesting point Chatlani adds, “Brands are also constantly evolving. From being a pure ethnic player in the initial days, Soch has today transformed into a stylish designer brand that retails fusion products such as tunics, palazzos, fusion suits and stoles, apart from traditional staples such as salwar kameez, kurtis and sarees, at affordable prices.” ‘

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Wrangler, the American denim brand, has introduced Climatech Apparel that comes with dual advantage of moisture management and thermal insulation, this helps the wearer to keep cool, when it’s warm and warm, when it’s cool.

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The ability of brands and retailers to address the specific requirements of children as well as their parents and to off er fashion solutions rather than mere products will be critical for their success.

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On the rise of brand consciousness, Vakharia adds, “The inclination towards branded denims is increasing among consumers. Buyers are getting quality and style conscious. We also see increased penetration of denims happening in the lower tiers of the country, due to rising aspiration levels.”

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