India Wire News
Buisness

Arvind Limited’s Q3 earnings increased by 9%, but sales are still struggling

<p><strong>AHMEDABAD:</strong><br />
Arvind Limited, a domestic textile company, reported a 9% rise in its consolidated net profit for the third quarter of FY 2024 on Tuesday. The company’s quarterly profit was Rs 91.7 crore, up from Rs 84.12 crore in the same period of FY 2023.<br />
Deflated pricing continued to put strain on the company’s revenues even as volume growth persisted.</p>
<p><img decoding=”async” class=”alignnone wp-image-381882″ src=”https://www.theindiaprint.com/wp-content/uploads/2024/01/theindiaprint.com-arvind-limiteds-q3-earnings-increased-by-9-but-sales-are-still-struggling-10725744.jpg” alt=”theindiaprint.com arvind limiteds q3 earnings increased by 9 but sales are still struggling 10725744″ width=”823″ height=”438″ title=”Arvind Limited's Q3 earnings increased by 9%, but sales are still struggling 3″ srcset=”https://www.theindiaprint.com/wp-content/uploads/2024/01/theindiaprint.com-arvind-limiteds-q3-earnings-increased-by-9-but-sales-are-still-struggling-10725744.jpg 400w, https://www.theindiaprint.com/wp-content/uploads/2024/01/theindiaprint.com-arvind-limiteds-q3-earnings-increased-by-9-but-sales-are-still-struggling-10725744-150×80.jpg 150w” sizes=”(max-width: 823px) 100vw, 823px” /></p>
<p>The textile giant’s revenue for the quarter was Rs 1,888.24 crore, which was 4.6% less than what it had earned in the equivalent quarter of FY 2023 ($1,979.79 crore).<br />
“Arvind Limited produced a strong performance in an environment that remained difficult.” Most enterprises had excellent volume increases, but revenue figures were restrained due to deflated pricing brought on by decreased input costs. The firm released a statement saying, “Textile Revenue stood at Rs 1,426 crore with an EBITDA of Rs 168 crore, translating into the highest EBITDA margin of 11.8% in the previous twelve quarters.”<br />
Arvind Limited’s denim business performed poorly as a result of weaker demand. From Rs 318 crore in the third quarter of FY 2023 to Rs 263 crore in the same quarter of FY 2024, its denim production sales fell 17%.<br />
“Due to the lackluster season, denim demand remained low throughout the third quarter. The quarter was characterized by a seasonal decline in volumes and a persistent decline in realizations, the business said.<br />
At 1.45 pm on Tuesday, the share price of Arvind Limited was trading at Rs 313.75 a share on the BSE.</p>

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