|
PNN
Ahmedabad (Gujarat) [India], October 24: Varvee Global Limited, a vertically integrated textile manufacturing company formerly known as Aarvee Denims and Exports Limited, reported a net profit of Rs 6.78 crore for the quarter ended September 30, 2026, marking a sharp turnaround from the net loss of Rs 6.56 crore in the preceding quarter. The results were approved by the companys Board of Directors at a meeting held today. The companys return to profitability was accompanied by a more than threefold sequential increase in total income to Rs 27.68 crore in the September 2026 quarter from Rs 8.88 crore in the June quarter. However, on a year-on-year basis, total income declined from Rs 34.32 crore in the September 2025 quarter, while net profit fell from Rs 10.21 crore in the corresponding period last year. For the first half of the financial year 2026-27, Varvee Global reported total income of Rs 36.56 crore, compared with Rs 40.59 crore in the corresponding period of the previous fiscal year. Net profit for the six-month period stood at Rs 23.18 lakh, against Rs 35.69 crore a year earlier. Commenting on the results, Tarachand Agrawal, Whole-time Director, Varvee Global Limited, said, The return to profitability in the September quarter, with a net profit of Rs 6.78 crore following the loss in the preceding quarter, marks a significant improvement in our financial performance. We remain focused on strengthening our operational performance, improving business efficiency and sustaining the strong growth momentum and recovery in the coming quarters. Varvee Global manufactures denim, non-denim, poplin, shirting and suiting fabrics, as well as cotton yarn and fibres. Its manufacturing facility in Narol, Ahmedabad, houses in-house processes including weaving, dyeing and finishing. In recent years, the company has diversified its focus towards non-denim shirting and suiting fabrics, B2B job work and fabric trading. In July 2026, it incorporated Varvee Energy, a wholly owned subsidiary focused on renewable energy solutions. (ADVERTORIAL DISCLAIMER: The above press release has been provided by PNN. ANI will not be responsible in any way for the content of the same.)
|
