Arvind Ltd posts Q2 net profit of Rs 71 crore
Leading textile manufacturer Arvind Ltd reported a consolidated net profit of Rs 71 crore ($10 million) for the second quarter ended September 2021, as against a net loss of Rs 6 crore it reported in the year-ago period.
The company’s revenue for the quarter jumped by 62 percent to Rs 2,115 crore, as against Rs 1,305 crore in the corresponding period of the previous fiscal year. The textiles segment contributed Rs 1,726 crore to its overall revenue.
Arvind’s expenses for the quarter rose by 53 percent to Rs 2,016 crore, as against Rs 1,316 crore a year ago.
“Volumes grew across all segments as post-Covid-19 demand stayed strong in both export and domestic markets. Input costs continued to increase sharply but were mostly offset by improved price realisation and higher efficiencies,” Arvind Ltd said in a post-earnings statement.
Arvind Ltd is one of the largest textile companies in India. The company is also the end-to-end supply chain partner to some of the world’s leading fashion brands.
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