06 January 2023, Mumbai
Girdhar Kumar Chitlangia is chief financial officer of Arvind Fashions. He is a qualified chartered accountant with an extensive knowledge of finance. He has worked for significant retail and fast-moving consumer goods organisations in India and internationally over the course of a 30-year career.
Leading textile manufacturer Arvind offers the widest array of fashion brands in India. The bouquet of brands – both homegrown and global – straddles lifestyles, categories and price points. International fashion brands wanting to enter India are keen to partner with Arvind.
For the second quarter Arvind’s consolidated net profit rose by 79 per cent. Revenue from operations was up two per cent compared to the corresponding period of the previous fiscal.Profit After Tax from continuing business and before the exceptional item was Rs 85 crores. Accounting for one-time items, PAT was Rs 125 crores. Arvind had a gain of Rs 40.52 crores from exceptional items, which includes profit on the sale of a subsidiary and provision from the value of land in Gujarat. Total expenses were up three per cent. Revenue from textiles was up one per cent. Overall textile revenues grew by three per cent as woven and knits volumes held steady. Higher price realisation helped hold unit margins.
