Arvind Q2 Results: Net profit slides 25% YoY at Rs 63 cr on to higher expenses, deferred tax provision
Arvind Ltd on Monday reported a 25.44 per cent decline in consolidated net profit at Rs 62.77 crore in the second quarter ended September 30, 2024 impacted by higher expenses and a one-time hit due to rise in provision for deferred tax. The company had posted a consolidated net profit of Rs 84.19 crore in the corresponding period last fiscal, Arvind Ltd said in a regulatory filing.
Consolidated revenue from operations in the second quarter stood at Rs 2,188.31 crore, as against Rs 1,921.73 crore in the year-ago period, it added.
Total expenses were higher at Rs 2,065.57 crore in the quarter under review, as compared to Rs 1,821.72 crore in the same period a year ago, the company said.
The company said it made a provision of Rs 29.35 crore as a cumulative one-time impact, while computing the profit after tax for the period ended September 30, 2024 following the change in long term capital gains tax.
The company said in the second quarter it recovered from challenges of quarter one and made progress on its growth path.
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