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Denim major, Arvind Limited has posted a net profit of Rs 102 crore for the quarter ending December 2013, up by 36 per cent as against Rs 75 crore in the corresponding quarter last year.
The company’s revenues jumped to Rs 1,774 crore for the quarter under review showing a growth of 26 per cent from Rs 1,405 crore in the same period last year.
In a statement issued to the exchanges, the company stated, "At the operating level, consolidated EBIDTA for the Quarter stood at Rs. 254 crore as against EBIDTA of Rs. 191 crore for the same quarter last year, registering growth of 33 per cent."
Commenting on the results as well as outlook for the Company, Jayesh Shah, director and chief financial officer, "The revenue of textiles segment has grown by 24 per cent led by growth of 20 per cent in denim, 21 per cent in woven fabrics and 35 per cent in garments manufacturing. Our brands and retail business has registered very strong growth of 30 per cent. We expect that the current growth momentum shall continue for the near future,” he said in a statement.
The company shares closed at Rs 137.35, down 1.3 per cent on the Bombay Stock Exchange (BSE) on Thursday.
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