Arvind Ltd Q1 results: Co posts net loss at Rs 11 cr

New Delhi: Leading textile manufacturer Arvind Ltd on Thursday reported narrowing of its consolidated net loss to Rs 11.42 crore for the first quarter ended June. The company had posted a net loss of Rs 97.31 crore in the year-ago period, it said in a regulatory filing.

However, the company's revenue from operations jumped to Rs 1,439.43 crore in the latest quarter under review compared to Rs 599.28 crore in the same period a year ago.

In the first quarter of this fiscal, Arvind's total expenses stood at Rs 1,449.31 crore compared to Rs 759.43 crore in the year-ago period.


During the latest quarter, denim volumes grew 2.8 times on a year-on-year basis while woven volumes rose 3.3 times and garment volumes increased 1.8 times. EBITDA margins in textiles stood at 8.9 per cent, it said in a post earnings statement.

"Input costs continued to increase sharply but were partially offset by improved price realisation and higher efficiencies. Textile performance was relatively strong given the impact of (COVID) wave 2, both in domestic markets as well as factory closures that impacted supply side," it said.

"Debt expected to further reduce during the year," the company said.

Shares of Arvind declined 2.50 per cent to Rs 105.45 apiece on BSE.