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Arvind Limited reports total income of ₹603 cr in Q1 FY21
04 Sep 20 1 min read
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.
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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).
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.
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)
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