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Home STOCKS Arvind Ltd.: Arvind Ltd Q4 outcomes: Net loss at Rs 17.32 cr...

Arvind Ltd.: Arvind Ltd Q4 outcomes: Net loss at Rs 17.32 cr sales down 11.7%

NEW DELHI: Foremost textile company Arvind Ltd on Saturday noted a consolidated internet loss of Rs 17.32 crore for the fourth quarter ended March 31, impacted by COVID-19 and the subsequent lockdown.
The company experienced posted a net profit of Rs 66.71 crore through January-March quarter of the previous fiscal, Arvind mentioned in a regulatory filing.
Its revenue from operations was down 11.71 per cent to Rs 1,641.56 crore throughout the quarter less than review, as towards Rs 1,859.39 crore in the corresponding time period of the preceding fiscal.
“COVID-19 has considerably impacted the normal business operations of the team by way of interruption in production, supply chain disruption, unavailability of staff, closure of production facility and many others through the lockdown…” the company stated.
Arvind’s whole expenses declined by 10.36 for every cent to Rs 1,613.37 crore in Q4 FY 2019-20, as versus Rs 1,799.95 crore.
“Stoppage of production and logistics in the second 50 % of March resulted in 42 for each cent fall for the thirty day period, creating an approximated revenue loss of Rs 250 crore, and corresponding EBITDA of Rs 75 crore,” explained Arvind in a publish earning statement.
Its revenue from textiles slipped 8.65 for every cent to Rs 1,350.85 crore, compared to Rs 1,478.87 crore in the corresponding period of time previous fiscal. Even though Progress Material was down 10.89 per cent to Rs 178.43 crore as versus Rs 200.24 of Q4 FY 2018-19.
For the fiscal 2019-20, Arvind’s net profit was down 59.67 per cent to Rs 92.10 crore. It was Rs 228.41 crore in the former calendar year.
However, its revenue from functions in the fiscal fell 3.17 for every cent to Rs 7,369 crore. It was Rs 7,142.18 crore in 2018-19.
“Full-year revenue was bigger by 3 for each cent compared to the preceding yr, pushed by progress in Garmenting and Innovative Supplies,” reported Arvind. According to the firm, “Despite the critical setback, Web financial debt lessened by 248 crore in the course of the year” and working capital sharply enhanced.

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