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Arvind Fashions Ltd net profit rises to Rs 37 crore in Q2

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The company’s revenue from operations was up 7.2 per cent to Rs 1,266.94 crore during the quarter, as against Rs 1,181.81 crore a year ago

New Delhi: Arvind Fashions Ltd, a leading casual and denim player, on Tuesday reported a 31.87 per cent increase in consolidated net profit to Rs 37.03 crore for the September quarter.

The company had posted a net profit of Rs 28.08 crore in the year-ago period, Arvind Fashions Ltd (AFL) said in a regulatory filing.

Its revenue from operations was up 7.2 per cent to Rs 1,266.94 crore during the quarter, as against Rs 1,181.81 crore a year ago, it said.

Revenues grew in the quarter under review “despite slower consumer demand. Growth was largely led by retail and MBO channel,” the company said in an earnings statement.

AFL reported “gross margin expansion of 510 bps year-on-year (y-o-y) to 49.5 per cent, led by retail growth of 9 per cent and higher retail channel mix by 400 bps y-o-Y.”

AFL’s total expenses during the quarter stood at Rs 1,223.29 crore, up 5.75 per cent compared to the year-ago period.

Its total income in the quarter was up 5.79 per cent to Rs 1,271.48 crore.

“We have delivered the highest-ever quarterly financial performance across revenues, EBITDA & PAT, while consumer demand continued to remain soft during the quarter,” AFL MD & CEO Shailesh Chaturvedi said.

Sharper execution in the retail channel, along with premiumisation offering across our marquee brands and decisive focus strategy continue to yield good results, he added.

AFL operates retail outlets of leading global brands such as US Polo Assn, Arrow, Tommy Hilfiger, Calvin Klein, and Flying Machine.

Shares of Arvind Fashions Ltd on Tuesday settled at Rs 366.70 on the BSE, up 8.59 per cent.

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