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Arvind Internet posted a loss of Rs 12.21Cr in Q4 FY18, announces demerger

Arvind Limited’s e-commerce business, Arvind Internet posted revenues of Rs 5.29 crore for the quarter ended December 31, 2017 (Q3FY18), which is sharp growth from Rs 1.82 crore in the previous quarter, and up 95% from Rs 2.71 crore revenues posted in the same quarter last year. So, for the full financial year till the end of Q4 FY18, Arvind Internet posted revenues of Rs 10.62 crore, up 91% from 5.56 crore in FY 2017.

However, the segment continued to post losses. In Q4 FY18, it reported a loss of Rs 12.21, which slightly spanned from the Rs 11.23 crore losses posted in the previous quarter, however, improved from Rs 18.16 crore losses reported in Q4FY17. For the FY 2018, the segment posted losses of Rs 54.43 crore, far much improved from losses of Rs 80.45 in FY 2017.

Arvind Internet operates the omnichannel platform NNNow.com, which was launched in May 2016, and it also owns Creyate.com, which was launched in August 2014.

Arvind’s restructuring

The group is also demerging its apparel & retail as well as engineering business into separate entities. The company expects demerger to complete by October and expect the three companies to list separately by then.

Download: Press Release| Financials

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