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Arvind Q3 Result: AMD does well, Textiles sees lower volumes in Denim and Garments

Arvind Q3 Result: AMD does well, Textiles sees lower volumes in Denim and Garments

Arvind Q3 Result: AMD does well, Textiles sees lower volumes in Denim and Garments
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By CNBCTV18.com Jan 25, 2023 9:57:51 PM IST (Published)

The company’s EBITDA dropped by 29.5% year-on-year to Rs 186 crore.

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Leading textiles maker Arvind Ltd. on Wednesday reported a 7.7 percent decline in consolidated profit after tax at Rs 87 crore for the December quarter compared to Rs 94.34 crore in the year-ago period due to a fall in the textiles segment revenue.

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On a quarterly basis, the PAT declined 31 percent from Rs 127.25 crore in the September quarter.


Revenue from operations also declined 12 percent year-on-year to Rs 1,979.79 crore compared to Rs 2,270 crore in the same period a year ago.

The company’s EBITDA also dropped to Rs 186 crore in the December quarter, down 29.5 percent, compared to Rs 241 crore in the same period a year ago.

The textiles segment revenue dropped to Rs 1,549.49 crore in the December quarter from Rs 1,918.13 crore in the year-ago period and Rs 1,758.98 crore in the September quarter.

Advanced materials revenue, however, rose to Rs 337.87 crore from Rs 267 crore a year ago. The revenue from the segment stood at Rs 313.43 crore in the September quarter.

The textile major’s operating margin also dropped to 6.23 percent in the December quarter from 7.45 percent in the year-ago quarter and 6.44 percent in the previous quarter.

Arvind Ltd is a textile-to-retail conglomerate with a focus on textiles, apparel, advanced materials, environmental solutions, telecom, and omnichannel commerce. The company is an integrated solutions provider in textiles with strong fibre-to-fashion capabilities for a global customer base.

Shares of Arvind Ltd. ended 1.74 percent lower at Rs 84.85 on Wednesday.

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