Leading player in the denim and casual market Arvind Fashions Ltd. (AFL), has announced that its consolidated net profit for the March quarter increased by 39.09 per cent to Rs. 39.67 crore.
As per Arvind Fashions Ltd.’s regulatory filing, the company reported a net profit of Rs. 28.52 crore for the January-March period in the previous year.
AFL said that their earnings from ongoing operations was Rs. 25 crore, up 72 per cent from the previous year. AFL’s operating income increased 3.66 per cent in the quarter to Rs. 1,093.85 crore from Rs. 1,055.20 crore in the same period last year.
AFL incurred 2.19 per cent more in total expenses in the March quarter, totaling Rs. 1,053.26 crore. With income from other sources included, its overall income for the March quarter was Rs. 1,106.84 crore, an increase of 3.55 per cent. Leading international brands like U.S. Polo Association, Arrow, Tommy Hilfiger, Calvin Klein, and Flying Machine have retail locations run by AFL.
AFL’s net profit for the fiscal year that concluded on March 31, 2024, increased by 56.31 per cent to Rs. 134.74 crore. During FY ’24, its operating revenue increased by 4.65 per cent to Rs. 4,259.12 crore.
Commenting on the results, MD & CEO Shailesh Chaturvedi said, “FY ’24 has been a differentiated year with sharper execution leading to improvement in all key financial metrics, despite market environment staying subdued. Our continued focus on retail excellence resulted in healthy 4 per cent like-to-like (LTL) growth leading to 120 bps improvement in EBITDA margin for the full year.”
