Arvind Fashions Ltd Reports Rs 13.92 Crore Q1 Profit Amid Revenue Surge

Arvind Fashions Ltd posted a net profit of Rs 13.92 crore in Q1 FY24, reversing a loss from the previous year, driven by strong revenue growth. The company's revenue rose to Rs 954.84 crore while total expenses increased to Rs 938.7 crore. CEO Shailesh Chaturvedi expressed optimism about future growth.

Arvind Fashions Ltd reported a consolidated net profit of Rs 13.92 crore for the first quarter ending June 2024, spurred by robust revenue growth.

The company had recorded a consolidated net loss of Rs 4.53 crore in the same quarter last fiscal, according to a recent regulatory filing.

Consolidated revenue from operations in Q1 stood at Rs 954.84 crore, up from Rs 866.68 crore. Meanwhile, total expenses increased to Rs 938.7 crore from Rs 862.22 crore.

The strong Q1 results underscore an all-around financial performance despite challenging market conditions, noted Shailesh Chaturvedi, MD & CEO of Arvind Fashions.

Chaturvedi also highlighted the company's excitement about its journey ahead, driven by investment in growth levers including retail space expansion.

It was also mentioned that Arvind Beauty Brands Retail Ltd was acquired by Reliance Beauty & Personal Care Ltd and ceased to be a subsidiary of AFL from November 3, 2023.

(With inputs from agencies.)