The Hindu Business Line : Aarvee Denims Q1 PAT down

Aarvee Denims and Exports Ltd has posted a net profit after tax (PAT) of Rs 4.19 crore for the first quarter ended June 30, 2006, compared to Rs 8.45 crore in April-June 2005.

According to the unaudited financial results for the period released here on Wednesday after a meeting of the company on July 31, this net profit was on a sales income of Rs 55.14 crore during the first quarter.

Last year in the same period, its income had totalled Rs 64.96 crore.

Of the total, income from domestic sales of fabric totalled Rs 47.71 crore and that from exports, including export incentive, added up to Rs 6.82 crore.

The earnings from wind-farm operations were Rs 61 lakh.

In 2005, the earnings for the first quarter in the three categories were Rs 54.18 crore, Rs 10.37 crore and Rs 41 lakh respectively.

"The decline in the top-line and bottom-line is attributed to the fall in per metre average realisation from Rs 90 to Rs 84 - 85 due to current mismatch in demand and supply of denim fabric.

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