.Agent imageTextile maker Arvind Ltd on Monday stated a 25.44 per-cent downtrend in combined internet profit at Rs 62.77 crore in the 2nd fourth finished September 30, 2024 affected through greater expenses and also an one-time hit because of increase in provision for prolonged tax. The firm had published a consolidated internet earnings of Rs 84.19 crore in the matching period final economic, Arvind Ltd stated in a regulatory submission. Consolidated revenue from functions in the second quarter stood at Rs 2,188.31 crore, as versus Rs 1,921.73 crore in the year-ago time frame, it incorporated. Overall expenditures were actually higher at Rs 2,065.57 crore in the fourth under customer review, as contrasted to Rs 1,821.72 crore in the very same duration a year back, the company pointed out. The firm claimed it made a provision of Rs 29.35 crore as an increasing one-time influence, while computing the profit after tax obligation for the period ended September 30, 2024 following the adjustment in long term funding increases income tax. The provider said in the second fourth it recovered from obstacles of quarter one and also made progress on its development path. "All plants worked generally, adding to a strong efficiency. Even with ongoing geopolitical problems as well as pessimistic macroeconomic projections generating uncertainty, the company's operating functionality this fourth revealed encouraging indications," it stated. Volume increases were disclosed throughout all sections, consisting of material and also garmenting, supported by steady raw material prices and a favourable product mix. While cloth department earnings increased by 12 percent, the highest in 9 one-fourths, and also reached Rs 1,633 crore, the advanced material branch clocked an income of Rs 388 crore, up 9 per-cent, it claimed. On the expectation, the firm said it counts on to keep the well-balanced performance energy of fourth pair of moving forward.
Posted On Oct 28, 2024 at 03:23 PM IST.
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