Arvind Limited, an India based textile company, has reported decrease in its total income to ₹603.22 crore in its first quarter (Q1) for fiscal 2021 ended on June 30 compared to income of ₹1,917.21 crore in the same period last fiscal. Company incurred a loss for the period of ₹97.31 crore compared to profit of ₹24.39 crore in Q2 FY20.
Arvind Limited, an India based textile company, has reported decrease in its total income to ₹603.22 crore in its first quarter (Q1) for fiscal 2021 ended on June 30 compared to income of ₹1,917.21 crore in the same period last fiscal. Company incurred a loss for the period of ₹97.31 crore compared to profit of ₹24.39 crore in Q2 FY20. #
Company’s loss before tax were ₹156.1 crore compared to profit before tax of ₹40.71 crore. Sales of textile segment dropped to ₹435.65 crore (₹1,616.63 crore). Advanced materials sales were down to ₹106.47 crore (₹167.87 crore).
Arvind Limited, an India based textile company, has reported decrease in its total income to ₹603.22 crore in its first quarter (Q1) for fiscal 2021 ended on June 30 compared to income of ₹1,917.21 crore in the same period last fiscal. Company incurred a loss for the period of ₹97.31 crore compared to profit of ₹24.39 crore in Q2 FY20. #
According to company’s press release, its revenues plunged in April however it started recovering in June/July and has reached 55-60 per cent levels of previous year.
Arvind Limited, an India based textile company, has reported decrease in its total income to ₹603.22 crore in its first quarter (Q1) for fiscal 2021 ended on June 30 compared to income of ₹1,917.21 crore in the same period last fiscal. Company incurred a loss for the period of ₹97.31 crore compared to profit of ₹24.39 crore in Q2 FY20. #
For upcoming quarter Q3, company expects its revenues to grow 10 per cent over Q2. Wovens and knits revenue growth to help rise in sales.
Fibre2Fashion News Desk (JL)