Arvind Fashions plunges deeper into red in Q3

N E W D E L HI : Arvind Fashions (AFL) r eported a consolidated net loss of Rs 65.62 cr ore in the thir d quarter ended December.

The compan y had posted a net loss of Rs 48.26 cr ore in the year-ago period, AFL said. Its net sales during the period under r eview was a t Rs 911.13 cr ore. It was Rs 1,062.28 cr ore in the year-ago period.

AFL MD and CEO J Suresh s aid with better than expected sales recovery through improved footfalls during the festi val period which has r esulted in significantly impr oved profitability and a cash breakeven f or continuing business in Q3 FY21.

"Our f ocus on digital and omni-channel initi atives and a dee p cost f ocus continue to deli ver robust outcomes. At the bac k of strong Q3, w e expect H2 FY21 to be significantly better in terms of sales & profitability growth," he added.