Arvind Ltd reports Q3 profit of Rs 22 cr
- Country:
- India
Textile major Arvind Ltd on Thursday reported a consolidated net profit of Rs 22.44 crore for the third quarter ended December 31, 2020.
The company had posted a profit of Rs 35.35 crore in October-December period a year ago.
Revenue from operations stood at Rs 1,526.14 crore during the quarter under review. It was at Rs 1,882.98 crore in the year-ago period, Arvind Ltd said in a BSE filing.
As a result of the nationwide lockdown to prevent spread of COVID-19, the volumes for the quarter and April-December period were impacted, the company said.
Revenue from operations and profitability decreased due to COVID-19 related market volatility, hence financial results for the latest quarter and nine months ended December 31, 2020 are not comparable to previous corresponding period results, it said.
Shares of Arvind Ltd were trading 0.38 per cent lower at Rs 52.30 apiece on the BSE.
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