On Monday, the Arvind Fashions Ltd clothing manufacturer recorded an increase of four times on year (YOY) of autonomous net losses to 22.9 RS crores for the first quarter that end on June on the back of a 13.5% drop on an annual basis of the RS 118.2 Crore operations. The company has not given any reason behind this autumn.
However, on a consolidated basis, the net profit of Arvind Fashions for the first quarter has risen to RS 13 crores compared to RS 1 cror per year ago. The consolidated revenues increased by 16% on an annual basis at RS 1.107 Crore. No reason was shared for this best performance at the consolidated level.
The CEO of Arvind Fashions Shailesh Chaturvedi said that the first quarter recorded a brilliant start to the exercise with a growth of revenues that reached 16%.
“This is a testimony of our efforts aware of investments in the highest marketing to return to our leading sector that lead to a strong awareness and higher steps together with the earnings of market shares. By going forward, we will continue to focus on our direct channel strategy with consequent higher profit and roce (return to the capital employed).”The growth of the company for the online channel was 30%more. The contribution of the online B2C channel increased from 13% to 15% in the quarter during the revision in the same period of the last financial statements. On Monday, the price of Arvind Fashion Ltd shares dropped by 0.1% on the BSE at RS 499.45.
