30 May 2022, Mumbai:
Against a net loss after tax of Rs 99.45 crore posted during the same period last year, Arvind Fashions posted a consolidated net profit of Rs 22.38 crore in Q4 ended March 2022. The company’s consolidated revenue from operations grew to Rs 916.7 crore during the quarter against Rs 684.58 crore in the year-ago period.
Growth was led by a strong bounce back in demand and strong footfalls further aided by growth in other channels, including online and department stores. The company’s expenses during the quarter increased to Rs 927.63 crore compared to Rs 719.65 crore a year ago.
RELEVANT NEWS Arvind Fashions posts Q3 FY22 results
For the fiscal ended March 31, 2022, the company narrowed its consolidated net loss to Rs 236.7 crore from Rs 595.99 crore in the preceding fiscal.
In FY22, the company’s consolidated revenue from operations grew to Rs 3,056.04 crore against Rs 1,911.91 crore in FY21, the company said.
Revenues from online channel grew to Rs 1,000 crore in FY22.
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Shailesh Chaturvedi, Managing Director and CEO says, the company achieved several milestones during FY22 on account of its refreshed brand identities, sharp retail execution, significant store and online retail expansion and a stronger balance sheet.
The company’s performance in second half of FY22 reflects the popularity of its brands amongst consumers and their resilience against the initial impact of the COVID-19 third wave in January 2022, adds Chaturvedi.
This sets the momentum for the company to capture a larger market share in FY23, he adds further.
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