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  1. Arvind net up two fold at Rs 110.33 crore

Arvind net up two fold at Rs 110.33 crore

Textile company Arvind Limited on Thursday reported a two fold jump in its consolidated net profit at Rs 110.33 crore for the quarter ending March 2016.

By: | Mumbai | Published: May 13, 2016 6:25 AM

Textile company Arvind Limited on Thursday reported a two fold jump in its consolidated net profit at Rs 110.33 crore for the quarter ending March 2016.

“The brands business continues to demonstrate strong growth with 30% CAGR for Q4,” said Jayesh Shah, director & chief financial officer, Arvind Limited.

Shah said, “Our established power brands consolidated their market positions and the recent additions in specialty retail formats got off a strong start.”

Operating profits of the company were up 13.13% at Rs 230.28 crore for the quarter ending March 2016 against R203.55 crore the previous year. Although the quarter observed lower project expenses, there was an increase in the revenue spent on power and fuel and other expenses.

Operating profit margins for the quarter were recorded at 9.97%, down 0.05% against 9.97% a year ago.

Arvind Limited ended the financial year 2015-16 with revenues of Rs 8431.45 crore, up 7.89% and net profits of Rs 362.70 crore, up 6.33%.

Operating profit for the year were at Rs 809.20 crore, up 1.08%.

The company will soon launch NNNow.com, a shopping platform for Indian customers which will link the online and offline retail shopping experience.

“Our textile business continues to deliver a strong performance as we continue to pursue a calibrated growth strategy,” said Shah.

On Thursday, share of Arvind closed 2.19% up at Rs 301.35 on BSE.

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