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Arvind Fashions Ltd on Thursday reported a consolidated net profit of Rs 13.92 crore in the first quarter ended June 2024, aided by a strong revenue growth. The company had posted a consolidated net loss of Rs 4.53 crore in the same quarter last fiscal, Arvind Fashions Ltd (AFL) said in a regulatory filing. Consolidated revenue from operations in the first quarter was at Rs 954.84 crore as against Rs 866.68 crore. Total expenses in the quarter were higher at Rs 938.7 crore as compared to Rs 862.22 crore, the company said. The strong Q1 results reflect an all-round financial performance under tough market conditions, said Shailesh Chaturvedi, MD & CEO of Arvind Fashions. "As the demand environment improves, with our investment behind all the growth levers including expansion of retail sq. ft., we remain excited about AFL's journey ahead," he added. In the previous year, Arvind Beauty Brands Retail Ltd (ABBRL) was acquired by Reliance Beauty & Personal Care Ltd and ceased to be
Arvind Fashions Ltd (AFL) on Wednesday reported a consolidated net loss of Rs 65.62 crore in the third quarter ended December 31, 2020. The company had posted a net loss of Rs 48.26 crore in the year-ago period, AFL said in a BSE filing. Its net sales during the period under review was at Rs 911.13 crore. It was Rs 1,062.28 crore in the year-ago period. Commenting on the results AFL MD and CEO J Suresh said with better than expected sales recovery through improved footfalls during the festival period which has resulted in significantly improved profitability and a cash breakeven for continuing business in Q3 FY21. "Our focus on digital and omni-channel initiatives and a deep cost focus continue to deliver robust outcomes. At the back of strong Q3, we expect H2 FY21 to be significantly better in terms of sales & profitability growth, he added. Arvind Fashions said its board has also approved issue of equity shares for an amount up to Rs 200 crore on rights basis. "The board ...