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ICICI Direct Report
Post re-opening of standalone stores, malls, Aditya Birla Fashion and Retail Ltd.’s revenue recovery was visible QoQ but it continues to be below pre-Covid-19 levels.
Revenue posted de-growth of 55.7% YoY to Rs 1,018.6 crore (our estimate Rs 1,075 crore), with 95% of stores being operational.
The company continued its strategy of significantly reducing cash burns through cost rationalisation measures (Rs 417 crore cost savings in Q2 FY21).
This led to better than anticipated operational performance in Q2 FY21.
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