Aarnav Fashions Reports 6% Rise in Q1 Net Profit, Revenue Grows 10%

Aarnav Fashions Limited, a prominent player in the Indian textile industry, has announced its financial results for the first quarter, showcasing robust growth in both revenue and profitability.

Financial Highlights

• Net profit increased by 6% to Rs 188.91 crore
• Revenue from operations grew by 10% to Rs 9,715.80 crore
• Earnings per share (EPS) improved to Rs 0.45

Detailed Performance

Aarnav Fashions Limited reported a net profit of Rs 188.91 crore for the quarter, marking a 6% increase from Rs 178.27 crore in the same quarter last year. The company's revenue from operations saw a significant uptick, rising 10% year-over-year to Rs 9,715.80 crore from Rs 8,836.46 crore.

The company's total expenses also increased, reaching Rs 9,471.59 crore compared to Rs 8,603.62 crore in the previous year's quarter. Despite the rise in expenses, Aarnav Fashions managed to improve its bottom line, demonstrating effective cost management and operational efficiency.

The earnings per share (EPS) for the quarter improved to Rs 0.45, up from Rs 0.42 in the corresponding quarter of the previous year, reflecting the company's enhanced profitability on a per-share basis.

Management Approval and Auditor's Review

The Board of Directors of Aarnav Fashions Limited approved these unaudited financial results during their meeting held on August 7. The meeting, which commenced at 5:30 p.m. and concluded at 6:25 p.m., also saw the adoption of the Limited Review Report issued by the Statutory Auditors of the Company.

Nahta Jain & Associates, the independent auditors, conducted a review of the quarterly unaudited standalone financial results. In their Limited Review Report, they stated that nothing has come to their attention that causes them to believe that the financial results do not present a true and fair view in accordance with applicable accounting standards and other recognized accounting practices and policies.

Business Segment and Future Outlook

Aarnav Fashions Limited primarily operates in the textiles business segment. The company's strong performance in this quarter underscores its resilience and market position in the textile industry.

The positive financial results, coupled with the growth in revenue and profitability, indicate a promising outlook for Aarnav Fashions Limited. As the company continues to navigate the dynamic textile market, its focus on operational efficiency and strategic growth initiatives is expected to drive further success in the coming quarters.

Investors and stakeholders can access the detailed financial results on the company's website ( www.aarnavgroup.com ) and on the BSE website ( www.bseindia.com ).