Arvind posts net profit of Rs 53.34 crore for March quarter

Arvind posts net profit of Rs 53.34 crore for March quarter

Leading textile manufacturer Arvind Ltd reported a consolidated net profit of Rs 53.34 crore for the fourth quarter ended March 2021.

The company had posted a net loss of Rs 17.32 crore during the January-March quarter of the previous financial year.

Its revenue from operations stood at Rs 1,654.87 crore, marginally up as compared with Rs 1,641.56 crore in the year-ago period.

“Denim volumes recovered to 113% of the previous year in the fourth quarter, while woven volumes recovered to 112 per cent.

It, however, reported a drop in garment volumes, which stood at 92 per cent of the previous year’s Q4 numbers.

Its revenue from textiles was at Rs 1,331.16 crore, down 1.46 per cent as against Rs 1,350.85 crore a year ago.

For the financial year ended on March 2021, Arvind reported a net loss of Rs 27.39 crore. It has a net profit of Rs 92.10 crore in the previous year.

The board has also approved a proposal to raise Rs 200 crore from market through a private placement basis by issuing non-convertible debentures (NCDs).

The fund will be used for general corporate purposes, including capital expenditure, augmenting long-term working capital and re-finance of existing loans.

Related posts

Will garment exports benefit from Duty Drawback Rate hike?

Perfect Sourcing Newsdesk

Impact of US-China Trade War on Global RMG Industry

Durst Restructuers Textile Printing Business

Perfect Sourcing Newsdesk

Leave a Comment