Business News | Arvind Fashions Net Profits in Jan-Mar Quarter Jump 32 Pc, Revenue 24 Pc
Get latest articles and stories on Business at LatestLY. Arvind Fashions Ltd registered a 32 per cent rise in consolidated net profits of Rs 29.5 crore in the January-March quarter.
New Delhi [India], June 1 (ANI): Arvind Fashions Ltd registered a 32 per cent rise in consolidated net profits of Rs 29.5 crore in the January-March quarter.
In the same quarter previous year, it was Rs 22.38 crore.
The textile player which houses brands like US Polo and Calvin Klein in India saw its revenue from operations jumped 24 per cent to Rs 1,140 crore during the quarter as against Rs 916.70 crore.
For the entire year 2022-23, the revenue increased from Rs 3,056 crore to Rs 4,421 crore.
The company said the revenue growth could be attributed to its better retail operations.
"Our differentiated brand proposition across multiple categories and channels continued to attract robust consumer demand, resulting in company crossing milestone of 4,000 crore NSV (net sales value) and an improved financial performance across all metrics during FY23," said said MD and CEO Shailesh Chaturvedi.
"We continue to expand our reach across the country and remain excited about the future potential to capture significant growth opportunities that lie ahead along with sharper focus on improving profitability further and generate higher return on capital employed," Chaturvedi added.
The company recommended a dividend of Rs 1 per equity share for the financial year ended March 31, 2023. However, it is subject to the approval of the shareholders of the company at the to-be-held Annual General Meeting.
A dividend is a reward that companies often provide to their shareholders, though not mandatory, from a portion of their earnings. (ANI)
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