Q2 net profit for Arvind Fashions Ltd. increases to Rs 37 crore

 Q2 net profit for Arvind Fashions Ltd. increases to Rs 37 crore

Leading international companies including US Polo Association, Arrow, Tommy Hilfiger, Calvin Klein, and Flying Machine have retail locations run by AFL.

Leading casual and denim company Arvind Fashions Ltd. said on Tuesday that its consolidated net profit for the September quarter increased by 31.87 percent to Rs. 37.03 crore. In the same time last year, Arvind Fashions Ltd (AFL) reported a net profit of Rs 28.08 crore in a regulatory filing.

According to the company, its operating revenue increased 7.2% to Rs 1,266.94 crore in the quarter compared to Rs 1,181.81 crore in the same period last year. In the reviewed quarter, revenues increased "even though consumer demand was lower." The business said in an earnings release that the retail and MBO channels drove the majority of the growth. The association said "gross margin increased by 510 bps year-on-year (y-o-y) to 49.5 per cent, led by sales growth of 9 per cent and higher retail transmit mix by 400 bps y-o-Y." AFL incurred Rs 1,223.29 crore in total during the quarter, a 5.75 percent increase over the same time last year. Its overall revenue for the quarter increased to Rs 1,271.48 crore, a 5.79 percent increase. "We have delivered the highest-ever quarterly financial achievement across revenues, EBITDA & PAT, while demand from consumers continued remained soft during the quarter," Shailesh Chaturvedi, president and CEO of A

He said, "Determinate focus strategy, premiumization offering across our marquee brands, and sharper execution in the retail channel continue to yield good results." Leading international companies including US Polo Association, Arrow, Tommy Hilfiger, Calvin Klein, and Flying Machine have retail locations run by AFL. Arvind Fashions Ltd.'s shares ended Tuesday's trading session on the BSE at Rs 366.70, up 8.59%.