However, the company’s revenue from operations jumped to Rs 1,439.43 crore in the latest quarter under review compared to Rs 599.28 crore in the same period a year ago.
In the first quarter of this fiscal, Arvind’s total expenses stood at Rs 1,449.31 crore compared to Rs 759.43 crore in the year-ago period.
During the latest quarter, denim volumes grew 2.8 times on a year-on-year basis while woven volumes rose 3.3 times and garment volumes increased 1.8 times. EBITDA margins in textiles stood at 8.9 per cent, it said in a post earnings statement.
“Input costs continued to increase sharply but were partially offset by improved price realisation and higher efficiencies. Textile performance was relatively strong given the impact of (COVID) wave 2, both in domestic markets as well as factory closures that impacted supply side,” it said.
“Debt expected to further reduce during the year,” the company said.
Shares of Arvind declined 2.50 per cent to Rs 105.45 apiece on BSE.
