Arvind Ltd shares gain on Q4 results, NNNow launch

By: | Published: May 12, 2016 4:01 PM

Arvind Ltd share price surged over 2 per cent on Thursday after the company reported 128.76 per cent year-on-year (yoy) rise in its consolidated net profit figures for the quarter ended March 2016.

arvind ltd, bse sensex, nnnowArvind Ltd share price surged over 2 per cent on Thursday after the company reported 128.76 per cent year-on-year (yoy) rise in its consolidated net profit figures for the quarter ended March 2016. (Photo: PTI)

Arvind Ltd share price surged over 2 per cent on Thursday after the company reported 128.76 per cent year-on-year (yoy) rise in its consolidated net profit figures for the quarter ended March 2016. It has posted a net profit of Rs 48.23 crore in the corresponding quarter a year ago.

The company also informed BSE that Arvind Internet has launched India’s first True Omni Channel Experience – NNNow.com. This new initiative is Arvind’s attempt to move away from the discount driven e-commerce market to a brand led shopping journeys. NNNow.com redefines shopping for Indian consumers by linking online and offline retail shopping experience. Arvind Internet Ltd. operates as a subsidiary of Arvind Ltd.

The board also recommended a dividend of Rs 2.40 per equity share for the year ended on March 31, 2016.

Gross sales of the company jumped 13.86 per cent yoy at Rs 2,314 crore for the quarter ended March 2016.

The share price of the company closed 2.19 per cent up at Rs 301.35. The scrip opened the day at Rs 298 and touched a high and low of Rs 303.40 and Rs 295.20, respectively, in trade. Sensex closed 193.20 points, or 0.75 per cent up at 25,790.22.

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