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Despite a dip in revenues, Arvind Ltd on Tuesday reported an 8.41 per cent rise in consolidated net profit of ₹94.32 crore for the third quarter ending December 2023.
According to the company’s regulatory filing, Arvind had clocked a net profit of ₹87 crore for the October-December quarter of the previous fiscal.
The company’s revenue from operations for the third quarter fell 4.62 per cent to ₹1,888 crore, as against ₹1,979 crore clocked during the same period a year ago. “Volumes clocked a healthy growth across most businesses, though deflated prices driven by lower input costs kept the revenue numbers muted,” stated the company in an official release.
The revenues from textiles — which includes fabrics, garments, and fabric retail — stood at ₹1,426 crore during the third quarter, down by about eight per cent. However, revenues from advanced materials — which includes human protection garments and fabrics, automotive fabrics, advanced composites, and industrial products — saw a two per cent rise during the quarter and stood at ₹345 crore.
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