Why Arvind Fashions shares gained over 7% today— Explained

Shares of Arvind Fashions gained around eight per cent on Tuesday, November 7, as the leading lifestyle company announced its July-September quarter results for fiscal 2023-24 (Q2FY24), reporting a rise of 32 per cent in net profit at ₹37 crore, compared to ₹28 crore, in the corresponding period last year. The company’s revenue from operations in the second quarter of current fiscal stood at ₹1,266.9 crore, registering a growth of 7.2 per cent, compared to ₹1,181.8 crore in the year-ago period.