Textile maker Arvind posts Rs 71 crore net profit for September quarter

Textile maker Arvind posts Rs 71 crore net profit for September quarter

Leading textile manufacturer Arvind Ltd on Wednesday reported a consolidated net profit of Rs 71.06 crore for the second quarter ended September 2021, helped by volume growth across segments.

The company had posted a net loss of Rs 5.86 crore during the corresponding quarter of the previous financial year, Arvind said in a regulatory filing.

Its revenue from operations during July-September 2021 stood at Rs 2,115.14 crore, a jump of 62.05 per cent as against Rs 1,305.17 crore in the year-ago period.

Arvind's total expenses were at Rs 2,016.71 crore, an increase of 53.19 per cent as against Rs 1,316.40 crore a year ago.

"Volumes grew across all segments as post-COVID-19 demand stayed strong in both export and domestic markets. Input costs continued to increase sharply but were mostly offset by improved price realisation and higher efficiencies," said Arvind Ltd in a post-earnings statement.

Its revenue from textiles was up 70.69 per cent to Rs 1,726.49 crore as against Rs 1,011.43 crore a year ago.

While advance material stood at Rs 298.28 crore, up 60.49 per cent as against Rs 185.85 crore of the year-ago period.

Arvind Ltd is one of the largest textile companies in India.

Shares of Arvind Ltd were trading at Rs 128.90 on the BSE in the afternoon trade, down 5.88 per cent from the previous close.