Arvind Fashions Ltd.'s decision to exit four brands from its portfolio has hurt the company's results in the quarter ended June, according to Executive Director Kulin Lalbhai.
There was a one-time write off worth Rs 68 crore as the company discontinued four brands and that led to a loss in the first quarter, Lalbhai told BloombergQuint in an interview. The company also made a “one-time correction” in its distribution channel, which is a “large impact”, he said.
Lalbhai, however, expects the company's trade channel to normalise by the second half of the year.
Key Earnings Highlights:
- The loss stood at Rs 95.36 crore in the April-June period.
- Revenue from operations stood at Rs 900.94 crore.
- Ebitda stood at Rs 19.8 crore.
- Margin stood at 2.2 percent.
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