On Monday, Arvind Ltd reported a consolidated net profit of Rs 101.62 crore in the first quarter, which ends on June 30, 2022. The net loss of the company was Rs 11.42 crore in Q1FY22. Revenue from operation had posted at Rs 2,352.12 crore, up to 63.93 per cent, compared to last year’s revenue of Rs 1,434.79 crore. Moreover, the total expense was Rs 2,234.68 crore, up to 55.75 per cent in Q2FY23. The advance material was at Rs 279.57 crore, up by 44.72 per cent in Q2FY23.

• IIT Bombay Sets Up Rs 100 Crore Venture Capital Fund for Startups 
• Tata Power Inks MoU with Asian Development Bank for $4.25 Billion 
• Innovators Facade Shares Skyrocketed 11% on Securing Orders Worth Rs 110 Crore 
• Stocks in Focus: SJVN, Tata Power, Afcons Infrastructure, and Others
• Stocks Under F&O Ban: Adani Enterprises, Aarti Industries, Indraprastha Gas, and Others 

Margins in the textiles segment “continued to be under pressure as input costs remained high and increase in unit price realizations helped offset only the cost increases,” said Arvind Ltd. “Arvind continued to deliver on its stated objective of reducing Long Term debt and reduced it by Rs 56 crores during this quarter. Arvind Limited closed the quarter at a net debt of Rs 1,809 crore,” also said.

Arvind Ltd shares were trading at Rs 100 on the Bombay Stock Exchange (BSE), up 8.28 per cent from last year.