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28 January 2022, Mumbai:
The company had posted a net profit of Rs 22.44 crore during the October-December period of the previous fiscal, Arvind said in a regulatory filing.
Leading textile manufacturer Arvind Ltd on Thursday reported an over four-fold increase in consolidated net profit at Rs 94.34 crore for the third quarter ended December 2021, led by volume growth across segments.
The company had posted a net profit of Rs 22.44 crore during the October-December period of the previous fiscal, Arvind said in a regulatory filing.
Revenue from operations was at Rs 2,275.66, up 50.39 per cent from Rs 1,513.16 crore in the year-ago quarter.
Total expenses climbed 45.25 per cent to Rs 2,146.60 crore, as against Rs 1,477.84 crore earlier.
"Volumes grew across all textile segments as post-Covid demand stayed strong in both export and domestic markets.
Cotton prices rose sharply, and other input costs continued to stay high, but were mostly offset by improved price realisation and higher efficiencies,” Arvind Ltd said in a post-earnings statement.
Revenue from textiles increased 57.34 per cent to Rs 1,918.13 crore, compared to Rs 1,219.11 crore.
On the outlook, the company said: "We expect Q4 to deliver strong results similar to the 3rd quarter.”
**The statistics mentioned in the above articles have been sourced from The Economic Times.
CREDITS: Money Control ET
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