Arvind Limited sees profits rise, revenue drop in FY24 Q3

Textile business Arvind Limited saw its consolidated net profits increase by 8.41% year-on-year in the third quarter of the 2024 financial year. However, the business’ revenue from operations dropped by 4.62% during the quarter due to price deflation. 

Arvind Limited reported a consolidated net profit totalling Rs 94.32 crore during the third quarter of the 2024 financial year, also referred to as the December quarter, the Press Trust of India reported. The business had logged a profit of Rs 87 crore during the same quarter of the 2023 financial year. 
 
“Q3 FY24 revenue was impacted by price deflation,” said Arvind Limited in a regulatory filing, India Retailing reported. The business’ revenue from operations totalled Rs 1,888.24 crore during the third quarter of the 2024 financial year compared to Rs 1,979.79 crore during the third quarter of the 2023 fiscal. 

The majority of the business’ revenue comes from its textiles business which covers both clothing and fabrics. The business also runs an advanced materials segment which covers human protection garments and fabric as well as other segments. 
 
Arvind Limited reduced its expenses during the December quarter by 6.42% year-on-year to total Rs 1,777.31 crore. The quarter also saw the business’ total income drop by 4.74% to total Rs 1,897.65 crore.