Arvind Fashions’ Consolidated Net Profit Up 39% In Q4FY’24
Arvind Fashions Ltd reported a 39.09 percent hike in consolidated net profit to Rs 39.67 crore in the fourth fiscal quarter ending March 2024, as against 28.52 crore for the same quarter of earlier fiscal.
Arvind Fashions’ revenue from operations grew to Rs 1,093.85 crore, up 3.66 percent in the January to March 2024 quarter as against Rs 1,055.20 crore in a year earlier quarter.
Total expenses in the reporting quarter amounted to Rs 1,053.26 crore, up 2.19 percent and its total income, which includes income from other sources, was Rs 1,106.84 crore, up 3.55 percent.
In fiscal ending March 31, 2024, the retailer’s net profit rose 56.31 percent year on year to Rs 134.74 crore, while revenue from operations grew 4.65 percent to Rs 4,259.12 crore.
“FY24 has been a differentiated year with sharper execution leading to improvement in all key financial metrics, despite market environment staying subdued,” CEO Shailesh Chaturvedi said.
“Our continued focus on retail excellence resulted in healthy 4 percent like-to-like growth leading to 120 bps improvement in EBITDA margin for the full fiscal,” he added.
“Moving forward, we expect growth to witness a strong uptick while continuing to stay decisively focused on scaling our existing brands through innovative retail formats,” Chaturvedi stated.
The company manages retail outlets of leading global brands like U.S. Polo Assn., Arrow, Tommy Hilfiger, Calvin Klein, and Flying Machine.
