03 August 2022, Mumbai:
The consolidated net profit of leading textile manufacturer Arvind increased to Rs 101.62 crore during the first quarter that ended on June 30, 2022.
The company had posted a net loss of Rs 11.42 crore during the April-June quarter of the previous fiscal.
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Revenue from operations increased 63.93 percent to Rs 2,352.12 crore compared to Rs 1,434.79 crore in the corresponding period of the previous fiscal. Total expenses increased 55.75 percent in Q1 FY2022-23 to Rs 2,234 crore as against Rs 1,434.72 crore a year ago.
Revenue from textiles increased 68.12 percent to Rs 1,976.28 crore against Rs 1,175.46 crore in the corresponding period of the last year. Revenue from Advance Material increased by 44.72 percent to Rs 279.57 crore, against Rs 193.17 crore, resulting from both volume growth as well as increased pricing.
Arvind reduced long-term debt by Rs 56 crore during this quarter. It closed the quarter at a net debt of Rs 1,809 crore.
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