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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