Arvind Fashions Q4 Profit Rises 39%, Revenue Up 3.6% - Business News

New Delhi, May 21 (PTI) Arvind Fashions Ltd -- a leading player in the casual and denim segment -- on Tuesday reported a 39.09 per cent increase in consolidated net profit to Rs 39.67 crore for the March quarter.

The company had posted a net profit of Rs 28.52 crore for the January-March period a year ago, according to a regulatory filing from Arvind Fashions Ltd.

Arvind Fashions had sold its Sephora business to Reliance Retail in the last December quarter. According to AFL, its profit from continuing business was at Rs 25 crore, up 72 per cent year-on-year.

AFL's revenue from operations was up 3.66 per cent to Rs 1,093.85 crore during the quarter from Rs 1,055.20 crore a year earlier.

AFL's total expenses in the March quarter stood at Rs 1,053.26 crore, up 2.19 per cent.

Its total income, which includes income from other sources, was Rs 1,106.84 crore, up 3.55 per cent in the March quarter.

The board of AFL, in a meeting on Tuesday, recommended a final dividend of Rs 1.25 per equity share of Rs 4 each, for FY24.

AFL operates retail outlets of leading global brands such as U.S. Polo Assn., Arrow, Tommy Hilfiger, Calvin Klein, and Flying Machine.

For the financial year ending on March 31, 2024, AFL's net profit was up 56.31 per cent to Rs 134.74 crore.

Its revenue from operations during FY24 was up 4.65 per cent to Rs 4,259.12 crore.

Commenting on the results, MD & CEO Shailesh Chaturvedi said, "FY24 has been a differentiated year with sharper execution leading to improvement in all key financial metrics, despite market environment staying subdued. Our continued focus on retail excellence resulted in healthy 4 per cent like-to-like (LTL) growth leading to 120 bps improvement in EBITDA margin for the full year."

Over the outlook, he said, "Moving forward, we expect growth to witness a strong uptick while continuing to stay decisively focused on scaling our existing brands through innovative retail formats and by accelerating our store network expansion leading to further improved margins," he said.

Shares of Arvind Fashions Ltd on Tuesday settled at Rs 491 on the BSE, up 4.5 per cent.