Arvind Fashions Q3 net loss at Rs 50.53 cr

New Delhi, Feb 11 () Arvind Fashions Ltd (AFL) on Tuesday reported a consolidated net loss of Rs 50.53 crore in the third quarter ended on December, 2019.

The company had posted a net profit of Rs 8.39 crore in the year-ago period, AFL said in a BSE filing.

Its net sales during the period under review was at Rs 1,135.45 crore. It was Rs 1,259.03 crore in the year-ago period.

AFL's total expenses stood at Rs 1,227.02 crore during the quarter.

According to the company "performance for the current quarter ending on December 31, 2019 is not comparable with previous period results".

Commenting on the results AFL MD and CEO J Suresh said:"We have completed the exit of non-strategic brands and have aligned primary and secondary sales. While external environment continues to stay challenging, we are confident that the steps undertaken during this year will have positive effect on sales growth and profitability going forward and shall further strengthen the fundamentals of our business."

AFL is a leading player in casual and denim segment and is a host of renowned brands, both international and indigenous, like US Polo Assn, Arrow, GAP, Tommy Hilfiger, Calvin Klein, Flying Machine and Sephora.

Shares of Arvind Fashions Ltd on Tuesday settled at Rs 382.15 on the BSE, up 7.77 per cent from the previous close. KRH SHWSHW