Arvind posts 40% drop in net profit, marginal revenue loss in Q1 FY25 – Industry News

Ahmedabad, July 29 – Arvind Limited, India’s leading apparel retailer, reported a 40% decline in its net profit (PAT) for the first quarter of fiscal 2025 at Rs 39 million from a profit of Rs 65 million in the corresponding quarter of the previous fiscal.

The Ahmedabad-based textile major’s total revenue from operations in the first quarter stood at Rs 1,831 crore as against a revenue of Rs 1,853 crore in the first quarter of FY24, down a marginal one per cent. Arvind Limited sells brands like Tommy Hilfiger, Calvin Klein and Arrow.

According to a company statement, the employee protest resulted in a decline in revenue of around Rs 200 million and a decline in EBITDA of Rs 60 million, including an increase in costs of around Rs 11 million, such as air freight costs, and additional staff costs incurred to mitigate the effects of the strike.

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The Textiles division’s revenue for the quarter was Rs 1,350 crore and EBITDA was Rs 99 crore, while the Advanced Materials division posted revenue of Rs 329 crore.

Domestic demand for fabrics and denim showed some growth, while exports declined slightly. Domestic demand for fabrics stood at 10.6 million meters compared to demand of 10.4 million meters in Q1 FY 24, while demand for denim stood at 5.7 million meters compared to demand of 5.3 million meters in the same period.

On the other hand, export demand for fabrics and denim stood at 16.4 million meters and 6.4 million meters compared to export demand of 18.2 million meters and 7.2 million meters in the first quarter of the previous fiscal year. Moreover, the volume of garments increased by about 25% to 9.3 million pieces in the quarter compared to 7.3 million pieces in the same quarter last year.

Showing the impact of quarterly results, the share prices of Arvind Limited fell by around 2.99% (Rs 11.55) and were trading at Rs 374.75 per share.