Q3FY23 Quarterly Result Announced for Arvind Ltd.
Textiles firm Arvind announced Q3FY23 results: Q3FY23: Revenues from continuing operations stood at Rs 1,980 crores; EBITDA at Rs 186 crores. Profit after tax from continuing business and before exceptional item was Rs 75 crore. Accounting for one-time items, PAT was reported at Rs 84 crores. Overall textile revenues were lower by 19% as volumes were lower especially in the Denim segment. Advanced materials clocked 26% growth for the quarter, taking the 9-month growth to 23%. AMD EBITDA margins improved to 13.8% in Q3. Arvind continued to deliver on its stated objective of reducing its long-term debt. During this quarter, LT debt saw a net reduction of Rs 135 crore, taking the outstanding to Rs 739 crore as of 31st December 2022. Overall net debt stood at Rs 1,504 crores aided by improved working capital turns. Result PDF25-01-2023