Business Standard

Arvind Fashions Q2 results: Net profit rises 36% to Rs 30 cr on high demand

The company, which retails clothing from international brands such as Arrow, Calvin Klein and Tommy Hilfiger, said its profit after tax rose to 300 million rupees for quarter ended Sept. 30

Q2

Illustration: Ajay Mohanty

Reuters

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Indian retailer Arvind Fashions reported a 36.6% rise in second-quarter profit on Monday, aided by sustained demand for its premium clothing brands.

The company, which retails clothing from international brands such as Arrow, Calvin Klein and Tommy Hilfiger, said its profit after tax rose to Rs 30 crore ($3.6 million) for the quarter ended Sept. 30 from 220 million rupees a year ago.

Its revenue from operations grew 8.5% to 12.73 billion rupees.

KEY CONTEXT

Indian retailers have been grappling with subdued demand due to intensifying competition and moderating discretionary spending as inflation accelerated in the quarter.

However, demand for premium products aimed at higher income consumers boosted the sales of companies, including Arvind Fashions.

 

Peer Shoppers Stop reported a loss in the second quarter as weaker discretionary spending weighed on the company's bottomline.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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First Published: Oct 28 2024 | 9:02 PM IST

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