Indian firm Arvind Fashions' revenue surges 5% in FY24

In the fourth quarter of fiscal 2024 (Q4 FY24), Arvind Fashions Limited achieved several milestones. Revenues grew by 4 per cent to ₹10.94 billion, compared to ₹10.55 billion in Q4 FY23, with a two-year revenue compound annual growth rate (CAGR) of 15 per cent. This growth was supported by a healthy 4 per cent like-to-like (LTL) increase. EBITDA for the quarter grew by 17 per cent to ₹1.48 billion, up from ₹1.27 billion in Q4 FY23. The EBITDA margin improved by 150 basis points (bps) to 13.5 per cent, despite a year-on-year (YoY) increase in advertising investment by approximately 100 bps, the company said in a press release.

Profit after tax (PAT) from continuing business stood at ₹250 million in Q4 FY24, reflecting a 72 per cent YoY growth. The reported PAT surged by 123 per cent to ₹240 million, compared to ₹110 million in Q4 FY23.

“FY24 has been a differentiated year with sharper execution leading to improvement in all key financial metrics, despite market environment staying subdued. Our continued focus on retail excellence resulted in healthy 4 per cent LTL growth leading to 120 bps improvement in EBITDA margin for the full year,” said Shailesh Chaturvedi, MD and CEO.

ALCHEMPro News Desk (DP)