Arvind Fashions, a prominent player in the casual and denim sector,has reported a 39.09 percent increase in consolidated net profit to INR 39.67 crore for the March quarter. According to a regulatory filing, the company had posted a net profit of INR 28.52 crore for the January-March period a year ago.
In the last December quarter, Arvind Fashions sold its Sephora business to Reliance Retail. According to AFL, the profit from its continuing business stood at INR 25 crore, marking a 72 percent increase year-on-year.
During the quarter, AFL’s revenue from operations increased by 3.66 percent to INR 1,093.85 crore from INR 1,055.20 crore recorded a year earlier.
In the March quarter, AFL’s total expenses amounted to INR 1,053.26 crore, indicating a 2.19 percent increase.
Continue Exploring: Arvind Fashions reports multifold rise in Q3 net profit to INR 51.08 Crore; Sephora business sale boosts earnings
The company’s total income, which includes revenue from other sources, reached INR 1,106.84 crore, up 3.55 percent in the March quarter.
During a meeting on Tuesday, the AFL board recommended a final dividend of INR 1.25 per equity share of INR 4 each for the fiscal year 2024.
AFL runs retail outlets for renowned global brands like Arrow, Tommy Hilfiger, Calvin Klein, and Flying Machine.
For the financial year ending March 31, 2024, AFL’s net profit surged by 56.31 percent to INR 134.74 crore.
During FY24, its revenue from operations increased by 4.65 percent to INR 4,259.12 crore.
Commenting on the results, MD & CEO Shailesh Chaturvedi stated, “FY24 has been a standout year, with sharper execution leading to improvements in all key financial metrics, despite a subdued market environment. Our continued focus on retail excellence resulted in a healthy 4 percent like-to-like (LTL) growth, contributing to a 120 basis points improvement in the EBITDA margin for the full year.”
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Regarding the outlook, he stated, “Moving forward, we anticipate strong growth while maintaining a decisive focus on scaling our existing brands through innovative retail formats and accelerating our store network expansion, which will lead to further improved margins.”
On Tuesday, shares of Arvind Fashions Ltd closed at INR 491 on the BSE, rising by 4.5 percent.
