Q2FY’24 Net Profit At Denim Maker Arvind Plunges 36%

Net profit at India’s biggest denim fabric manufacturer, Arvind Ltd plunged 36 percent year on year to Rs. 84.02 crore in the second fiscal quarter ending September 30, 2023

The Sanjay Lalbhai led company recorded operational revenue at Rs 1,921.73 crore in the quarter under review, down 11.43 percent as against Rs 2,169.81 crore in the corresponding quarter of fiscal 2023.

However, EBITDA in the June to September 2023 quarter stood at Rs 206 crore, up 2 percent over the comparable quarter of earlier fiscal.

The Ahmedabad based company’s textiles business posted revenues at Rs 1,455.32 crore in the reporting quarter and the advanced materials business delivered revenue of Rs 354.49 crore.