Indian fashion retailer Arvind Fashions‘ profit after tax declined 5 per cent to 560 million rupees (US$6.7 million) despite revenue increasing 5 per cent to 42.59 billion rupees.

In the fiscal fourth quarter, the fashion retailer’s profit after tax surged 72 per cent year over year to 250 million rupees as revenue rose 4 per cent to 10.94 billion rupees.

“FY24 has been a differentiated year with sharper execution leading to improvement in all key financial metrics, despite the market environment staying subdued,” said Shailesh Chaturvedi, Arvind Fashions MD and CEO.

“Moving forward, we expect growth to witness strong uptick while continuing to stay decisively focused on scaling our existing brands through innovative retail formats and by accelerating our store network expansion leading to further improved margins and return on capital employed.”

Arvind Fashions retails apparel from several brands, such as Arrow, Calvin Klein, Tommy Hilfiger, US Polo Assn, and Flying Machine.