NE BUSINESS BUREAU
NEW DELHI, OCT 29
Textile major Arvind Ltd on Thursday reported a consolidated net loss of Rs 5.86 crore for the quarter ended on September 30, 2020, impacted by the COVID-19 pandemic.
The company had posted a net profit of Rs 49.68 crore in the July-September quarter a year ago, the company said in a BSE filing.
Total income during the quarter stood at Rs 1,318.95 crore against Rs 1,973.90 crore in the corresponding quarter a year ago.
Arvind Ltd said as a result of lockdown to contain the outbreak of COVID-19, the volumes for the current quarter and half year are impacted. Revenue from operations and profitability have decreased due to COVID-19-related market volatility. Therefore, financial results for quarter and half year ended September 30, 2020, are not comparable to previous corresponding period results, it added.
Shares of Arvind Ltd were trading 0.29 percent lower at Rs 34 apiece on the BSE.
