Arvind Fashions Ltd reports Q3 net loss of Rs 51 crore

By

Maverick Martins

Published
Feb 12, 2020

Arvind Fashions Ltd (AFL) reported a consolidated net loss of Rs 51 crore ($7.2 million) for the third quarter ended in December 2019, as against a net profit of Rs 8 crore it had posted in the year-ago period.
 

The company’s sales revenue for the quarter under review also dropped to Rs 1,135 crore, as compared to Rs 1,259 crore it had reported in the corresponding period of last fiscal year.
 
Arvind Fashions total expenses during the quarter were Rs 1,227 crore.

Commenting on the results AFL’s managing director and CEO J Suresh in a statement said, "We have completed the exit of non-strategic brands and have aligned primary and secondary sales. While the external environment continues to stay challenging, we are confident that the steps undertaken during this year will have a positive effect on sales growth and profitability going forward and shall further strengthen the fundamentals of our business."
 
Arvind Fashions Ltd retails brands like Calvin Klein, Tommy Hilfiger, and Gap, among many others in India.