Arvind Fashion shares drop by 2%, after rise in net loss
Q-o-Q revenue zooms by 106% yet reported loss; Board approves rights issue of Rs 200 crore
Casual and denim player Arvind Fashions Limited (AFL) reported a consolidated net loss of Rs 65.62 crore in the third quarter ended December 31, 2020. Due to the results, the share of the company is trading in red, almost down by around 2 per cent. At 3.15 pm, the share of Arvind Fashion was trading at Rs 145.95 per piece.
Meanwhile, the company had posted a net loss of Rs 48.26 crore in the year-ago period, AFL said in a BSE filing.
It has reported a revenue of Rs 901 crore in the third quarter of FY 2021. The company registered 106 per cent Q-o-Q (quarter on quarter) revenue growth in Q3 FY 2021 whereas saw a decline of 14 per cent year on year basis. In Q3 FY20, the company reported a revenue of Rs 1,052 crore.