Arvind Ltd’s Q2 net profit jumps 79 percent to Rs 125 crore

By

Maverick Martins

Published
Nov 9, 2022

Textiles major Arvind Ltd witnessed a 79 percent rise in its consolidated net profit to Rs 125 crore ($15.4 million) for the July-September quarter, as against Rs 70 crore reported in the year-ago period.

The company’s revenue for the quarter rose by 3 percent to Rs 2,170 crore, as against Rs 2,108 crore in the corresponding period of the previous fiscal.

Arvind’s total expenses for the quarter were up by 4 percent to Rs 2,072 crore, as against Rs 2,002 crore reported in the year-ago period.

“Overall textile revenues grew by 3 percent as woven and knits volumes held steady. Higher price realization helped hold unit margins, though it suffered in percentage terms,” Arvind Ltd said in a press release.

“Arvind continued to deliver on its stated objective of reducing its long-term debt which further reduced by Rs 27 crore in the quarter. Overall net debt stood at Rs 1,719 crore aided by improved working,” it added.

Arvind Limited is one of the largest textile companies in India with annual revenue of over $1 billion. The company is also the end-to-end supply chain partner to some of the world’s leading fashion brands.