Arvind Fashions reports slowdown in revenue growth during Q3FY’24
Retailer of clothing from brands such as Arrow, Calvin Klein and Tommy Hilfiger, Arvind Fashions reported a slowdown in revenue growth in its third quarter spanning October-December.
Arvind Fashions' consolidated revenue rose about 5 per cent to Rs 11.25 billion in the October-December quarter. However, this was 7 per cent decline as compared to the previous quarter but a 17 per cent growth on a Y-o-Y basis.
Arvind Fashions' profit from continuing operations rose by 14 per cent to Rs 301.2 million in the third quarter. That excluded a one-time gain of Rs 348.2 million from the sale of its unit, Arvind Beauty Brands.
Arvind Fashions’ rival Shoppers Stop reported a third consecutive fall in quarterly profits while the profit of Tata Group-owned Trent surged on strong festive-season sales.
