Arvind Group’s fashion and garment division, Arvind Fashions Limited on Thursday reported a consolidated net loss of Rs. 208 crore for the quarter ended March 2020.
As compared to the loss the company had to endure owing to the COVID-19 pandemic, Arvind Fashions posted a net profit of Rs. 21 crore during the corresponding quarter last year.
The company’s revenue from operations witnessed a decline of 39 per cent to Rs. 711 crore during the quarter under review as compared to Rs. 1,169 crore during the previous fiscal.
So far as the company’s total expenses are concerned, it fell 23 per cent to Rs. 896 crore as against Rs. 1,163 crore during the fourth quarter of 2018-19.
For fiscal year 2019-20, Arvind Fashions reported a net loss of Rs. 399 crore as against the net profit of Rs. 22 crore in the same period last year.
The company’s revenue from operations in FY 2020 saw a drop of 17 per cent to Rs. 3,866 crore as against Rs. 4,644 crore in 2018-19.
Arvind Fashions has a strong presence through 1,290 stores across India.
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