Leading textile producer Arvind Ltd. said on Thursday that tax advantages enabled its consolidated net profit climb by 12.7% to Rs 97.30 crore for the fourth quarter ended March 2023.According to Arvind’s regulatory filing, the business reported a net profit of Rs 86.34 crore at the same time last year.
However, during the quarter under review, its revenue from operations fell 14.4% to Rs 1,880.76 crore. In the similar period of the prior fiscal, it was Rs 2,197.04 crore.Arvind’s overall spending decreased 13% to Rs 1,794.09 crore from Rs 2,061.97 crore the previous year.
Arvind earned Rs 1,430.98 crore from textiles during the quarter and Rs 319.71 crore from advanced materials.Its overall income to Rs 1,893.09 crore, a 14.21% decrease from the March quarter’s previous.Arvind’s net profit for the fiscal year 2023 increased 71% to Rs 413.17 crore. In the same time last year, it had reported a net profit of Rs 241.58 crore.
In FY23, its consolidated revenue from operations was Rs 8,382.48 crore, an increase of 4.65% over the previous fiscal year.
