Result of ABFRL

“In the third quarter, ABFRL recorded a net loss of Rs 107.60 crore, a stark contrast to the net profit of Rs 11.21 crore reported in the same period last year.
During this quarter, the company generated revenue from operations amounting to Rs 4,166.71 crore, reflecting a 16 percent increase compared to Rs 3,588.80 crore recorded in the corresponding quarter of the previous year.
Morgan Stanley, an international brokerage firm, holds a negative outlook on the company’s stock, classifying it as ‘underweight’ and assigning a target price of Rs 176. This target price suggests a downside of 27.5 percent from the previous closing price of Rs 243. Morgan Stanley pointed out that the decline in revenue from the lifestyle brands segment and athleisure during the third quarter were notable drawbacks for the company.”