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Arvind Limited, one of largest textile companies in India also engaged in apparel retailing, has registered a 50 per cent increase in revenue to ₹2276 crore in the third quarter of fiscal 2022 as compared to ₹1541 crore in the third quarter of fiscal 2021. For the third quarter of 2022, textile revenue jumped 57 per cent to a total of ₹1917 crore.
Volumes grew across all Textile segments as post-COVID demand stayed strong in both export and domestic markets. Cotton prices rose sharply, and other input costs continued to stay high, but were mostly offset by improved price realization and higher efficiencies, Arvind Limited said in a press release.
For the third quarter of fiscal 2022, the company registered EBITDA at ₹237 crore, PBT at ₹142 crore and PAT at ₹93 crore – all time high numbers. EBIDTA rose by 46 per cent despite high cotton prices, other input prices and international logistics challenges. Surge in volumes were observed due to continued strength in the domestic market and sharp improvement in export demand, especially for wovens. Debt reduction of ₹157 crore was registered during the quarter as planned.
Arvind Limited, one of largest textile companies in India also engaged in apparel retailing, has registered a 50 per cent increase in revenue to ₹2276 crore in the third quarter of fiscal 2022 as compared to ₹1541 crore in the third quarter of fiscal 2021. For the third quarter of 2022, textile revenue jumped 57 per cent to a total of ₹1917 crore.
In the fourth quarter, the company is expecting both export and domestic demand to continue staying strong. Markets around the world shrugging off COVID related worries, and demand expected to get fresh impetus as European states start coming out of pandemic lock-downs. Fourth quarter revenue and margins are likely to be similar to third quarter numbers. Strong demand side situation will help maintain robust volumes and price realisation. EBITDA will be healthy, though margins will look under pressure as top-line will be inflated.
Fibre2Fashion News Desk (RR)
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