Arvind Fashions posts Q3 net loss of Rs 6 crore
Arvind Fashions Ltd. (AFL) has reported a consolidated net profit of Rs 6 crore ($793,812) in the third quarter ended December 31, 2021, as against a net loss of Rs 68 crore in the year-ago period.
The company’s revenue for the quarter rose by 30 percent to Rs 1008 crore, as against Rs 773 crore it posted in the corresponding period of the previous fiscal year.
Commenting on the Q3 results, Shailesh Chaturvedi, AFL managing director CEO in a statement said, “The quarter's financial performance was achieved on the back of sharp execution in retail channel resulting in over 40 per cent like-to-like (LTL) growth and continued momentum in online channel, leading to EBITDA margins expansion by 200 bps.
“With significant de-leverage and leaner balance sheet coupled with continued focus on our 6 high conviction brands, we’re confident of delivering sustainable profitable growth over long term while creating value for all our stakeholders,” added Chaturvedi.
AFL is one of India’s leading players in the fashion segment with its six marquee brands including U.S. Polo Association, Arrow, Flying Machine, Calvin Klein, Tommy Hilfiger, and beauty brand Sephora.
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