Arvind Ltd Q3 net profit jumps to Rs 94 crore
Leading textile manufacturer Arvind Ltd witnessed a four-fold jump in its consolidated net profit at Rs 94 crore ($12.5 million) for the third quarter ended December 2021, as against a net profit of Rs 22 crore it reported in the year-ago period.
The company’s revenue for the quarter rose by 50 percent to Rs 2,276 crore, as against Rs 1,513 crore it posted in the corresponding period of the previous fiscal year.
Arvind’s total expenses during the quarter rose by 45 percent to Rs 2,147 crore, as against Rs 1,477 crore in the year-ago period.
Commenting on the Q3 results, Arvind Ltd in its earnings statement said, "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.”
“We expect Q4 to deliver strong results similar to the 3rd quarter,” it added.
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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