Leading textile manufacturer Arvind Ltd reported a consolidated net profit of Rs 53 crore ($7.4 million) for the fourth quarter ended March 2021, as against a net loss of Rs 17 crore in the year-ago period.
The company’s revenue for the quarter was marginally up to Rs 1,655 crore, as against Rs 1,642 crore it had reported in the corresponding period last fiscal year.
For the financial year ended 2020-21, Arvind reported a net loss of Rs 27 crore as compared to a net profit of Rs 92 crore in the previous year, while its revenue was down 31 percent Rs 5,073 crore as against Rs 7,369 crore in 2019-20.
“Denim volumes recovered to 113 percent of the previous year in the fourth quarter, while woven volumes recovered to 112 percent. However, we reported a drop in our garment volumes, which stood at 92 percent of the previous year’s Q4 numbers,” Arvind Ltd said in a post-earnings statement.
“Besides, Ebitda (earnings before interest, tax, depreciation and amortisation) margins in textiles improved to 12.6 percent, compared with 9.3 percent a year ago, despite a significant increase in all input costs including cotton, yarns, dyes, chemicals, packaging and transport,” it added.
Arvind Limited is a leading player in India’s textile and apparel market. It owns several private labels and licenses for international brands in India.
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