Textile maker Arvind posts Rs 71 crore net profit for September 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