Latest news with #ArvindFashions'
Economic Times
2 days ago
- Business
- Economic Times
Arvind Fashions posts Rs 23 crore standalone net loss in June quarter
Apparel manufacturer Arvind Fashions Ltd on Monday posted a fourfold year-on-year (yoy) increase in standalone net losses at Rs 22.9 crore for the first quarter ending June on back of a 13.5% yoy decline in revenue from operations at Rs 118.2 crore. The company did not give any reason behind this fall. ADVERTISEMENT However, on a consolidated basis, Arvind Fashions' net profit for the first quarter went up to Rs 13 crore as compared to Rs 1 crore a year back. Consolidated revenue jumped by 16% yoy at Rs 1,107 crore. No reason was shared for this better performance at a consolidated level. Arvind Fashions managing director Shailesh Chaturvedi said the first quarter reported a bright start to the financial year with revenue growth reaching 16%. "This is a testimony of our conscious efforts of investing in higher marketing to re-energize our industry leading brands leading to strong awareness and higher footfalls along with market share gains. Moving ahead, we will continue to focus on our direct channel strategy resulting in higher bottom-line & ROCE (return on capital employed).'The company's growth for the online channel was 30%-plus. The contribution of the online B2C channel increased from 13% to 15% in the quarter under review over the same period last fiscal. On Monday, Arvind Fashion Ltd share price was down 0.1% on the BSE at Rs 499.45. (You can now subscribe to our ETMarkets WhatsApp channel)
Time of India
2 days ago
- Business
- Time of India
Arvind Fashions posts fourfold losses in June quarter at Rs 23 crore
Apparel manufacturer Arvind Fashions Ltd on Monday posted a fourfold year-on-year (yoy) increase in standalone net losses at Rs 22.9 crore for the first quarter ending June on back of a 13.5% yoy decline in revenue from operations at Rs 118.2 crore. The company did not give any reason behind this fall. However, on a consolidated basis, Arvind Fashions' net profit for the first quarter went up to Rs 13 crore as compared to Rs 1 crore a year back. Consolidated revenue jumped by 16% yoy at Rs 1,107 crore. No reason was shared for this better performance at a consolidated level. Explore courses from Top Institutes in Please select course: Select a Course Category Technology Others Data Analytics Data Science Public Policy Digital Marketing CXO Leadership Product Management Design Thinking MBA Operations Management MCA healthcare Artificial Intelligence Finance Project Management Cybersecurity Management PGDM others Healthcare Degree Data Science Skills you'll gain: Duration: 12 Weeks MIT xPRO CERT-MIT XPRO Building AI Prod India Starts on undefined Get Details Arvind Fashions managing director Shailesh Chaturvedi said the first quarter reported a bright start to the financial year with revenue growth reaching 16%. "This is a testimony of our conscious efforts of investing in higher marketing to re-energize our industry leading brands leading to strong awareness and higher footfalls along with market share gains. Moving ahead, we will continue to focus on our direct channel strategy resulting in higher bottom-line & ROCE (return on capital employed).' The company's growth for the online channel was 30%-plus. The contribution of the online B2C channel increased from 13% to 15% in the quarter under review over the same period last fiscal. On Monday, Arvind Fashion Ltd share price was down 0.1% on the BSE at Rs 499.45. Live Events
