Infographic| ARVIND Ltd.(NSE: ARVIND)| Q3 FY23 Results Out

Arvind Ltd(NSE: ARVIND) is an Indian textile manufacturer and fashion retailer. The company has announced its Q3FY23 results. Revenues from continuing operations stood at Rs 1,980 crores, with EBITDA at Rs 186 crores. The company reported a profit after tax from continuing business and before exceptional item of Rs 75 crore. After accounting for one-time items, the PAT was reported at Rs 84 crores.

The overall textile revenues were lower by 19% as volumes were lower, particularly in the Denim segment. However, the Advanced materials segment clocked 26% growth for the quarter, taking the 9-month growth to 23%. The EBITDA margins for Advanced materials improved to 13.8% in Q3. Additionally, Arvind continued to deliver on its stated objective of reducing its long-term debt. During this quarter, the long-term debt saw a net reduction of Rs 135 crore, taking the outstanding to Rs 739 crore as of December 31, 2022. The overall net debt stood at Rs 1,504 crores, aided by improved working capital turns.