.Representative imageTextile producer Arvind Ltd on Monday stated a 25.44 per cent downtrend in combined net profit at Rs 62.77 crore in the 2nd quarter ended September 30, 2024 impacted by higher expenditures and an one-time blow because of increase in provision for prolonged tax. The company had actually submitted a combined net revenue of Rs 84.19 crore in the corresponding duration final financial, Arvind Ltd claimed in a regulative submission. Consolidated revenue from operations in the second quarter stood at Rs 2,188.31 crore, as against Rs 1,921.73 crore in the year-ago time period, it incorporated. Total expenditures were greater at Rs 2,065.57 crore in the quarter under testimonial, as matched up to Rs 1,821.72 crore in the exact same period a year ago, the business pointed out. The provider stated it produced a regulation of Rs 29.35 crore as an increasing single impact, while calculating the income after income tax for the period ended September 30, 2024 observing the adjustment in lasting funding gains tax. The provider pointed out in the 2nd quarter it recuperated coming from difficulties of quarter one and made progress on its growth pathway. "All plants functioned commonly, supporting a powerful efficiency. Even with on-going geopolitical issues and pessimistic macroeconomic foresights creating uncertainty, the firm's operating efficiency this quarter revealed appealing indicators," it claimed. Edition gains were actually mentioned around all sectors, including material and garmenting, sustained through steady basic material prices and a good item mix. While cloth department revenue grew by 12 percent, the greatest in nine quarters, and got to Rs 1,633 crore, the innovative component branch clocked a profits of Rs 388 crore, up 9 per cent, it said. On the outlook, the business mentioned it counts on to sustain the healthy and balanced performance momentum of one-fourth 2 going forward.
Published On Oct 28, 2024 at 03:23 PM IST.
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