Companies

Arvind posts Q1 standalone net of ₹2 cr

Our Bureau Ahmedabad | Updated on August 05, 2021

Standalone revenue from operations was up at ₹1,340 crore

Denim major Arvind Limited registered standalone net profit at ₹2 crore for the quarter ended June 30, against a net loss of ₹77 crore in the same quarter last year.

The company’s standalone revenue from operations stood at ₹1,340 crore (₹493 crore).

On consolidated basis, the company’s net loss narrowed to ₹11 crore against net loss of ₹97 crore in the same quarter last year. The consolidated revenue from operations stood at ₹1,439 crore (₹599 crore).

While the company's performance for quarter ended June 2020 was impacted due to the nationwide lockdown imposed by the Government, the quarter ended June 2021 saw impact of the second Covid wave, which cast a shadow on the company's overall performance.

During the quarter, the company's denim volumes grew 2.8 times on a year-on-year basis; Woven volumes grew 3.3 times and garment volumes by 1.8 times.

EBITDA margins in textiles stood at 8.9 per cent, the company said.

“Input costs continued to increase sharply, but were partially offset by improved price realisation and higher efficiencies,” it said adding strong export demand and continuing momentum led towards an overall robust quarter.

“Textile performance was relatively strong given the impact of wave 2, both in domestic markets as well as factory closures that impacted supply side,” the company said in a statement.

Advanced Materials, which delivered a robust quarter, saw revenue at ₹193 crore.

Arvind Limited shares ended down 2.4 per cent at ₹105.20 apiece on the BSE on Thursday.

Published on August 05, 2021

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