Arvind Fashions Ltd on Friday reported a consolidated net profit of Rs 22.38 crore for the fourth quarter ended March 2022.
The company had posted a consolidated net loss after tax of Rs 99.45 crore in the same quarter previous fiscal, Arvind Fashions Ltd said in a regulatory filing.
Consolidated revenue from operations during the quarter under review stood at Rs 916.7 crore against Rs 684.58 crore in the year-ago period, it added.
This was led by a strong bounce back in demand and strong footfalls, the company said, adding it was further aided by growth in other channels, including online and department stores.
Total expenses in the fourth quarter were higher at Rs 927.63 crore compared to Rs 719.65 crore a year ago, the company said.
For the fiscal ended March 31, 2022, the company’s consolidated net loss narrowed to Rs 236.7 crore from Rs 595.99 crore in the preceding fiscal.
In FY22, consolidated revenue from operations stood at Rs 3,056.04 crore against Rs 1,911.91 crore in FY21, the company said.
The online channel achieved the significant milestone of Rs 1,000 crore in revenue in FY22, it added.
Shailesh Chaturvedi, MD and CEO, Arvind Fashions said, ”FY22 has indeed been an important year for the company having achieved various milestones with refreshed brand identities, sharp retail execution, significant expansion of our store network backed by Omni-capabilities, leadership in the online channel with Rs 1,000 crore revenues and a stronger balance sheet.” Performance in the second half of FY22 reflects great affinity of the company’s brands amongst the consumers and resilience of the business model to overcome the initial impact of the COVID-19 third wave in January 2022, he added.
”This momentum sets us up strongly for FY23 to capture the large opportunities in branded and apparel industry, thereby delivering accelerated profitable growth going ahead,” Chaturvedi said.