Leading textile manufacturer Arvind Ltd on Wednesday reported 64.22 per cent rise in consolidated net profit at Rs 87.60 crore for the fourth quarter ended March 2022, helped by strong volume and a price increase during the period.
The company had logged a net profit of Rs 53.34 crore during January-March period a year ago, Arvind said in a regulatory filing.
Revenue from operations was at Rs 2,203.50 crore as against Rs 1,654.87 crore in the corresponding period of previous fiscal year.
Its fabric and garment volumes remained strong across both domestic as well as export markets, said Arvind in an earning statement.
The garment volumes in the quarter were at an all-time high and fabric volumes remained healthy, it said.
''Margins continued to be under pressure as cotton prices continued to soar, and other input costs also remained high. While price increases helped offset the cost increases, margin numbers looked lower compared to previous periods,'' it said.
Total expenses in the quarter were higher at Rs 2,081.22 crore as against Rs 1,566.36 crore a year ago.
Revenue from textiles was up at Rs 1,824.11 crore from Rs 1,331.16 crore in the year-ago period.
Revenue from advanced materials was Rs 267.08 crore as against Rs 198.65 crore in March quarter 2020-21.
For the fiscal year ended March 2022, consolidated net profit was at Rs 241.58 crore. It had reported a net loss of Rs 27.39 crore in the previous year.
Revenue from operations last fiscal year was at Rs 8,033.73 crore as against Rs 5,072.98 crore in the preceding year.
''Arvind Limited closed the financial year at a net debt of Rs 1,682 crore which was Rs 268 crore lower than March 2021 levels. Long term debt reduced by Rs 415 crore over this period,'' it said.
Shares of Arvind Ltd closed 1.01 per cent lower at Rs 107.90 apiece on BSE.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
