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Arvind Internet posted a loss of Rs 11.23Cr in Q3FY18; will invest Rs 15-18Cr in FY19

Arvind Limited's e-commerce business, Arvind Internet posted revenues of Rs 1.82 crore for the quarter ended December 31, 2017 (Q3FY18), which was a marginal decline from Rs 1.85 crore in the previous quarter, but was up 8.3% from Rs 1.68 crore revenues posted in the same quarter last year. In Q1FY18, Arvind Internet had reported revenues of Rs 1.66 crore. So, for the nine-month period till the end of Q3FY18, Arvind Internet posted revenues of Rs 5.33 crore. However, the segment posted losses of Rs 11.23 crore for the quarter, which was a slight improvement from the Rs 14.20 crore losses posted in the previous quarter, and less than half of the Rs 26.35 crore losses reported in Q3FY17. In Q1FY18, the segment had reported losses of Rs 16.80 crore. So, for the nine-month period till the end of Q3FY18, the segment posted losses of Rs 42.23 crore. E-commerce business remains subdued While answering an analyst question, during the earnings call, regarding investments into Arvind Internet, the company's CFO Jayesh Shah said that: On cash basis negative investment of about Rs 8 crore (was made) this quarter, compared to that it was Rs 23 crore in Q3 last year. So, it has sharply come down and we believe that it will further go down in Q4 and it will stabilize at Rs 15 crore to Rs 18 crore for the whole of next financial year. Note that during the company's Q1FY18 earnings call, while answering a question about the amount of…

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