The uptick in share price came after the company announced that the strike at Santej plant by workers demanding wage hike has been called off
Arvind's topline grew 8.7 per cent year-on-year (Y-o-Y) to Rs 2,074.5 crore in Q4FY24, compared to Rs 1,880.7 crore in the corresponding period of the previous fiscal year
Consolidated revenue from operations in FY24 stood at Rs 7,737.75 crore as against Rs 8,382.48 crore in FY23
Revenue from the company's textile segment, which accounts for nearly 75% of total sales, dropped 8%
A memorandum of understanding (MoU) was signed between the Indian Navy and textile and apparel company Arvind Limited for the supply of technically advanced uniform fabric for the Navy
With cotton prices at home on the higher end versus global markets, analysts believe that the disparity is affecting India's global competitiveness in the near-term
Arvind expects garment volumes to start improving in the second half of the year despite the soft economic outlook globally as customers become comfortable with the economic outlook and resume buying
The Ahmedabad-based company's net profit rose 17% to 970 million rupees, aided by a sharp drop in expenses
Increased capacity utilisation, softening cotton prices set to help sector: Analysts
Textile manufacturer Arvind Ltd on Wednesday reported an 11.62 per cent decline in consolidated net profit from continuing operations to Rs 87 crore in the third quarter ended December 31, 2022. The company had posted a consolidated net profit from continuing operations of Rs 98.44 crore in the same period last fiscal, Arvind Ltd said in a regulatory filing. Revenue from operations during the quarter under review were at Rs 1,979.79 crore as against Rs 2,270.07 crore in the year-ago period, it added. Total expenses were lower at Rs 1,899.7 crore as compared to Rs 2,134.54 crore in the same period last fiscal, the company said. In July 2022, Arvind Ltd said the parent company sold its 100 per cent stake of wholly owned subsidiary, Arvind Internet Ltd to Bigfoot Retail Solutions Pvt Ltd for a consideration of Rs 159 crore and accordingly, the group has considered its wholly owned subsidiary Arvind Internet Ltd as discontinued operations. Overall textile revenues were lower as volume
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Stocks to Watch today: Cigarettes-to-hotels major ITC on Monday reported a 33.98 per cent year-on-year (YoY) jump in its consolidated net profit, which came in at Rs 4,389.76 crore
Shares of Arvind Ltd were trading at Rs 100 on BSE, up 8.28 per cent from the previous close
Firm had posted a loss of nearly Rs 6 cr in the year-ago quarter
Leading textile manufacturer Arvind Ltd on Wednesday reported a consolidated net profit of Rs 71.06 crore for the second quarter ended September 2021, helped by volume growth across segments. The company had posted a net loss of Rs 5.86 crore during the corresponding quarter of the previous financial year, Arvind said in a regulatory filing. Its revenue from operations during July-September 2021 stood at Rs 2,115.14 crore, a jump of 62.05 per cent as against Rs 1,305.17 crore in the year-ago period. Arvind's total expenses were at Rs 2,016.71 crore, an increase of 53.19 per cent as against Rs 1,316.40 crore a year ago. "Volumes grew across all segments as post-COVID-19 demand stayed strong in both export and domestic markets. Input costs continued to increase sharply but were mostly offset by improved price realisation and higher efficiencies," said Arvind Ltd in a post-earnings statement. Its revenue from textiles was up 70.69 per cent to Rs 1,726.49 crore as against Rs 1,011.43
Better show on account of growth in exports and signs of recovery in domestic markets
Consolidated revenue from operations dips 19% to Rs 1,514 crore
Textile major Arvind Ltd on Thursday reported a consolidated net loss of Rs 5.86 crore for the quarter ended on September 30, 2020, impacted by the Covid-19 pandemic
Consolidated income during the quarter fell by nearly 69 per cent to Rs 603.22 crore from Rs 1,917.21 crore in Q1 of FY20
Company expects a sharp fall in demand for its products and sagging sales in the first quarter of the current fiscal