Higher revenues from operations helped Arvind Fashions narrow its consolidated net loss in the fourth quarter ended March 2021 quarter to Rs 99.45 crore. The company reported a net loss of Rs 208.12 crore during the quarter against the corresponding quarter last year.
The company’s revenue from operations increased 14 per cent to Rs 768.59 crore during the quarter as against Rs 673.31 crore in the corresponding quarter a year ago. COVID-19 has severely impacted business resulting in inventory build-up and slower collection of receivables. With easing of lockdown restrictions, the group's performance for the subsequent quarters has been progressively better, until the same was once again impacted somewhat in the current quarter due to the second wave of COVID-19. However, the company remains confident of scaling powerful brands in its portfolio in the medium term, says Shailesh Chaturvedi, Managing Director and CEO.
