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Arvind Group's infrastructure arm Arvind SmartSpaces Ltd (formerly Arvind Infrastructure Ltd) posted net loss of ₹1.39 crore for the third quarter ended December 2016 against loss of ₹0.57 crore in the same quarter last fiscal.
Consolidated revenue for the quarter stood at ₹13.79 crore against ₹5.64 crore for the corresponding period last year.
For the nine-month period, the company posted consolidated net profit of ₹3.89 crore against net loss of ₹0.65 crore for the same period of last year.
Consolidated revenue for the nine-month period stood at ₹58.91 crore against ₹23.72 crore during the same period of the last financial year.
The consolidated EBITDA for nine months ended December 31, 2016, was ₹15.51 crore against ₹6.86 crore for the same period of last financial year. The consolidated EBIDTA for the third quarter stood at ₹1.20 crore against ₹2.62 crore for the corresponding period of same quarter last year.
Commenting on the results as well as outlook of the company, Kamal Singal, Managing Director & CEO said, "The performance of the company for the third quarter of the year is impacted by some of the recent macro-economic factors. Due to uncertainty in the micro and macro environment, buyers have temporarily postponed their buying decision."
“However, the company is maintaining healthy pace of execution and believe that the above negative impact is of short term nature and in the medium to long term, the markets will become steady and rebound.”
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