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Arvind Ltd reports loss of Rs 0.11 bn in Q1 2021-22

Aug 10, 2021
Arvind Ltd reports loss of Rs 0.11 bn in Q1 2021-22

New Delhi

Arvind Ltd has reported a net loss of Rs 0.11 billion in the first quarter ended June, in its regulatory filing. However, the revenue from operations has shot up to Rs 14.39 billion as compared to Rs 5.99 last year. 

The company has shown a net loss of Rs 0.97 billion last year. The company’s total expenses stood at Rs 14.49 billion in the first quarter of the fiscal. The same data in the same period a year ago was Rs 7.59 billion. During the same quarter, it was reported that the volumes of denim have grown 2.8 times whereas woven volumes rose 3.3 times. And the volumes of garments increased 1.8 times. According to the post earnings statement, EBITDA margins in textiles stood at 8.9%. The statement also said that the costs of inputs are rising sharply which were offset partially by better price realization and higher efficiencies. It was also said that the performance of textiles was strong due to the impact of the second wave of Covid.

The company is also expecting a reduction in the amount of debt this year.  It was also noted that the shares of the company have declined by 2.5% and cost Rs 105.45 per piece.

Source – The Economics Times

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