.Agent imageTextile producer Arvind Ltd on Monday mentioned a 25.44 percent downtrend in consolidated net profit at Rs 62.77 crore in the 2nd quarter ended September 30, 2024 affected through greater expenditures as well as an one-time hit due to increase in provision for deferred income tax. The firm had posted a consolidated internet revenue of Rs 84.19 crore in the matching time period final monetary, Arvind Ltd said in a governing declaring. Consolidated earnings coming from procedures in the second fourth stood up at Rs 2,188.31 crore, as versus Rs 1,921.73 crore in the year-ago time frame, it added.
Complete costs were actually greater at Rs 2,065.57 crore in the quarter under evaluation, as compared to Rs 1,821.72 crore in the same period a year back, the company stated. The firm mentioned it produced a provision of Rs 29.35 crore as a cumulative one-time influence, while figuring out the income after income tax through ended September 30, 2024 following the modification in long term resources increases income tax. The business stated in the second quarter it recovered from challenges of quarter one and acted on its growth path.
“All plants worked ordinarily, contributing to a powerful functionality. Despite ongoing geopolitical concerns as well as cynical macroeconomic forecasts creating unpredictability, the company’s operating performance this fourth revealed appealing indications,” it pointed out. Volume gains were actually reported throughout all portions, featuring textile and garmenting, assisted by stable raw material costs as well as a good item mix.
While fabric department revenue expanded by 12 percent, the highest in 9 one-fourths, as well as connected with Rs 1,633 crore, the state-of-the-art material branch clocked a profits of Rs 388 crore, up 9 percent, it pointed out. On the expectation, the provider claimed it anticipates to sustain the well-balanced performance momentum of fourth two going forward. Posted On Oct 28, 2024 at 03:23 PM IST.
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