InvestorQ : How do you see the Jun-20 numbers of Arvind Fashions?
sarah Leo made post

How do you see the Jun-20 numbers of Arvind Fashions?

Answer
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Rashi Mehra answered.
3 weeks ago


Arvind Fashions reported a net loss of Rs.213 crore for the Jun-20 quarter due to the impact of the COVID-19 pandemic. This is a virtual doubling of loss compared to Rs.95 crore in the Jun-19 quarter.

For the Jun-20 quarter, the revenue from operations stood at Rs.104 sharply lower than the Rs.900 crore reported in the corresponding quarter last year. The period had been tough due to operations being under near-complete closure in the months of April and May.

The company had just about 70% of its stores were operational at the end of Q1 FY-21. However, post July nearly 80% stores have already opened. Apparel retail industry is one of the worst impacted by the COVID-19 pandemic.