Arvind Fashions Ltd reported a consolidated net profit of Rs 13.92 crore in Q1 FY24, driven by strong revenue growth, despite tough market conditions.
New Delhi, Aug 1 (PTI) Arvind Fashions Ltd on Thursday reported a consolidated net profit of Rs 13.92 crore in the first quarter ended June 2024, aided by a strong revenue growth.
The company had posted a consolidated net loss of Rs 4.53 crore in the same quarter last fiscal, Arvind Fashions Ltd (AFL) said in a regulatory filing.
Consolidated revenue from operations in the first quarter was at Rs 954.84 crore as against Rs 866.68 crore.
Total expenses in the quarter were higher at Rs 938.7 crore as compared to Rs 862.22 crore, the company said.
The strong Q1 results reflect an all-round financial performance under tough market conditions, said Shailesh Chaturvedi, MD & CEO of Arvind Fashions.
"As the demand environment improves, with our investment behind all the growth levers including expansion of retail sq. ft., we remain excited about AFL's journey ahead," he added.
In the previous year, Arvind Beauty Brands Retail Ltd (ABBRL) was acquired by Reliance Beauty & Personal Care Ltd and ceased to be a subsidiary of AFL from November 3, 2023.
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