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Net income slides 25% YoY at Rs 63 cr on higher expenses, put off tax obligation regulation, ET Retail

.Agent imageTextile maker Arvind Ltd on Monday disclosed a 25.44 per cent downtrend in combined web income at Rs 62.77 crore in the 2nd one-fourth ended September 30, 2024 affected through higher costs and a single blow because of increase in regulation for prolonged income tax. The firm had submitted a combined web income of Rs 84.19 crore in the matching time period final monetary, Arvind Ltd stated in a regulatory submitting. Consolidated revenue from operations in the 2nd quarter stood up at Rs 2,188.31 crore, as versus Rs 1,921.73 crore in the year-ago time frame, it included. Total expenditures were greater at Rs 2,065.57 crore in the quarter under review, as compared to Rs 1,821.72 crore in the exact same time period a year back, the business stated. The provider claimed it helped make a stipulation of Rs 29.35 crore as a collective single impact, while figuring out the revenue after income tax for the period finished September 30, 2024 adhering to the improvement in long term resources gains income tax. The provider mentioned in the second one-fourth it bounced back coming from difficulties of one-fourth one as well as acted on its development course. "All plants worked normally, contributing to a solid performance. Even with ongoing geopolitical concerns as well as cynical macroeconomic foresights generating uncertainty, the business's operating efficiency this quarter revealed appealing indicators," it claimed. Volume increases were actually mentioned around all sectors, including cloth and also garmenting, assisted by stable raw material expenses and also a favourable product mix. While cloth division income expanded through 12 per-cent, the greatest in 9 fourths, as well as connected with Rs 1,633 crore, the enhanced material branch clocked an earnings of Rs 388 crore, up 9 per-cent, it claimed. On the expectation, the provider mentioned it expects to preserve the healthy efficiency momentum of fourth 2 going forward.
Released On Oct 28, 2024 at 03:23 PM IST.




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