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India: Arvind Ltd posts profits in Q4FY23 results

  

Arvind Ltd, a leading textile manufacturer, showed resilience by achieving a 12% increase in net profit for Q4 FY 2022-23, despite a 14% decline in revenue. Net profit reached Rs 97 crore ($12 million), up from Rs 86 crore in the same period last year.

The revenue decline was due to soft denim and garment volumes, but the Advanced Materials segment maintained momentum with a 22% increase in top-line performance and improved margins.

Growth and Sustainability Soar: Arvind's Success

Arvind remains optimistic, planning investments of Rs 600 crore to expand capacities and enhance sustainability initiatives. This strategic approach demonstrates the company's adaptability to evolving market dynamics. FY 2022-23 saw exceptional financial performance for Arvind, with a remarkable 71% increase in net profit and successful reductions in net and long-term debt.

The company's board recommended dividends and aims to raise Rs 200 crore through Non-Convertible Debentures, strengthening its financial position.

Arvind's ability to capitalize on tax gains and maintain a positive consolidated net profit highlights its astute management in a volatile market. With a focus on Advanced Materials and sustainability, Arvind is positioned for future growth and success in the textile industry.

 
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