Arvind Ltd Q2 net up 39 pct at Rs 90.05 cr

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SummaryArvind Ltd had posted net profit of Rs 64.78 crore in same qtr last fiscal.

Arvind Ltd today reported 39 per cent increase in its consolidated net profit for the second quarter ended September 30, 2013, at Rs 90.05 crore on the back of good performance from its textiles vertical.

The company had posted net profit of Rs 64.78 crore in the same quarter last fiscal, Arvind ltd said in a filing to the BSE.

Net sales during the period under review stood at Rs 1,762.76 crore as against Rs 1,347.24 crore in the same quarter last fiscal, it added.

Textiles business posted a revenue of Rs 1,170.55 crore as compared to Rs 950.79 crore in the year-ago quarter. Brand and retail vertical had a revenue of Rs 501.47 crore in the quarter as against Rs 346.30 crore in the same period last year.

Commenting on the performance, Arvind Ltd Director and Chief Financial Officer Jayesh Shah said: "Buoyed by all round volume growth as well as price gains across all business segments, the company has achieved very strong financial numbers."

The growth in textiles segment is led by volume growth of 21 per cent in woven fabrics and 46 per cent in garments and manufacturing, he added.

"Our brand and retail business registered very strong growth of 45 per cent in a challenging market scenario. Encouraged by such health growth in the first half of the year, the company has revised its internal growth revenue estimated to about 24 per cent from earlier estimate of 20 per cent for the current financial year," Shah said.

Shares of Arvind Ltd were trading at Rs 101.20 per scrip, down 1.8 per cent from the previous close on BSE.

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