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breaking news AMD is doing well, textiles see their volumes fall in denim and clothing

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

wealth desk

On Wednesday, major textile maker Arvind Ltd. announced a 7.7% drop in its consolidated after-tax profit to Rs 87 crore for the December quarter from Rs 94.34 crore a year ago due to lower revenue from the textile segment.

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

Operating revenue also declined by 12% year-on-year to Rs 1,979.79 crore from Rs 2,270 crore in the same period a year ago.

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

Revenue from the textile segment fell to Rs 1,549.49 crore in the December quarter from Rs 1,918.13 crore a year ago 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. Revenue for the segment stood at Rs 313.43 crore in the September quarter.

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

Arvind Ltd is a textile retail conglomerate specializing in textiles, apparel, advanced materials, environmental solutions, telecommunications and omnichannel commerce. The company is an integrated textile solutions provider with strong fashion fiber capabilities for a global customer base.

The shares of Arvind Ltd. ended down 1.74% at Rs 84.85 on Wednesday.


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