Arvind Ltd Reports 8.41% Increase In Q3FY’24 Net Profit
Sanjay Lalbhai led Arvind Ltd reported an 8.41 percent year on year increase in consolidated net profit at Rs 94.32 crore for the third fiscal quarter ended December 31, 2023.
“But, revenues from operations, impacted by price deflation, dropped 4.62 percent from a year ago quarter to Rs 1,888.24 crore during the three months to December 31, 2023,” the company said.
Total income in the third quarter of fiscal 2023-24 amounted to Rs 1,897.65 crore, falling by 4.74 percent from same period of fiscal 2022-23.
In the reporting quarter, overall expenses decreased 6.42 percent over the corresponding quarter of previous fiscal to Rs 1,777.31 crore.
Revenue from the textiles division which includes fabrics, garments and fabric retail stood at Rs 1,425.50 crore.
While the ‘Advance Material’ division, which includes human protection fabrics, garments, advanced composites and automotive fabrics, was at Rs 344.59 crore in the quarter under review.
