Latest news with #Rs37.8
Time of India
17-05-2025
- Business
- Time of India
Arvind Fashions reports Rs 17 crore Q4 Loss despite 13.7% YoY revenue growth
Live Events (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel Arvind Fashion Ltd, which sells fashion brands such as Arrow Calvin Klein , and Tommy Hilfiger in India, reported a sharp decline of 192% on a year-on-year (yoy) basis in standalone net loss at Rs17 crore for its fourth quarter ending March, but with a revenue growth of 13.7% yoy at Rs150 crore for the same period. The company did not share any reason behind this fall in its earnings the fiscal ending March 31, 2025, net profit stood at Rs37.8 crore which grew strongly from last year's losses of Rs11 crore in FY24. The company posted revenue of Rs665.9 crore which grew by 9.3% yoy in the same duration. Shailesh Chaturvedi , managing director and CEO, said in the earnings statement, 'FY25 results reflect sharp execution of company's strategic plans and consistent financial performance across the brands leading to an improvement in all KPIs, while demand environment remained muted. Our mantra of profitable growth has helped in achieving the milestone of ROCE (return on capital employed) crossing 20%.'The company posted profits this year driven by increased focus on adjacent categories such as womenswear , and innerwear. The company also focussed on lower discounting with a higher revenue mix at 42% and achieved 15% growth in retail channel on a year on year also mentioned that the company plans to focus on online presence and expansion in the coming future.
Business Recorder
07-05-2025
- Business
- Business Recorder
Pakistan steel exporter sets up subsidiary in Ireland to tap European markets
International Industries Limited (IIL), one of Pakistan's largest manufacturers and exporters of steel and polymer pipes, has launched a wholly-owned subsidiary in Ireland called INIL Europe Limited. The listed steel exporter shared the development in a notice to the Pakistan Stock Exchange (PSX) on Wednesday. 'A new venture has now been launched by IIL in Europe. The company has set up a fully owned subsidiary, 'INIL Europe Limited,' in Ireland, with the primary goal of expanding its global presence by trading its products in Ireland and other European Union countries,' read the notice. The company stated that it remains focused on the sustainable expansion of both its domestic and export portfolios, while also exploring new revenue opportunities. 'To this end, the company is evaluating various new ventures, planning to introduce new products, and targeting exciting new markets. In line with this strategic direction, IIL has already established subsidiaries such as IIL Australia Pty Ltd. in Australia, IIL Americas Inc. in Canada, and IIL Trading (Pvt) Ltd. in Pakistan.' International Steels Limited Over the past five years, IIL's exports have surpassed $150 million, with its products sold in more than 60 countries, including Australia, North America, Europe, Africa, the Middle East, and South Asia. The company believed that the new European subsidiary would play a key role in opening new markets for IIL products and promoting the 'Pakistan' brand in Europe. 'This venture will also contribute to earning foreign exchange, supporting the economic growth and sustainability of both IIL and the country. The company is confident of leveraging its brand and reputation to establish a rewarding niche in Europe,' it added. Incorporated in Pakistan in 1948, IIL is the country's largest manufacturer of steel and polymer pipes with an annual manufacturing capacity of 817,000 tons and annual revenues of Rs37.8 billion. The company has an equity of Rs14.5 billion and has featured on the listing of Pakistan's Top 25 Companies for the last 14 years.
