Arvind Fashions Ltd (AFL) reported a 123 percent rise in net profit to Rs 24 crore ($2.9 million) for the fourth quarter ended March 31, as against Rs 11 crore in the year-ago quarter.
The company’s revenue for the quarter rose by 4 percent to Rs 1,094 crore, as against Rs 1,055 crore in the corresponding quarter of the previous fiscal year.
For the full financial year, AFL’s net profit stood at Rs 56 crore on a revenue of Rs 4,259 crore.
Commenting on the results, Shailesh Chaturvedi, managing director CEO in a statement said, “FY24 has been a differentiated year with sharper execution leading to improvement in all key financial metrics, despite the market environment staying subdued. Our continued focus on retail excellence resulted in healthy 4 percent LTL growth leading to 120 bps improvement in EBITDA margin for the full year.”
“Moving forward, we expect growth to witness 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 improve margins & ROCE,” he added.
Arvind Fashions Ltd is a leading fashion retailer with a strong portfolio of fashion brands that include both international and domestic brands like U.S. Polo Assn, Arrow, Tommy Hilfiger, Calvin Klein, and Flying Machine.
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