Comments
Arvind Ltd, the integrated textile and branded apparel player, on Monday said it recorded growth of revenue by 29 per cent and net profit by 145 per cent in the first quarter of 2013-14 ended June 30, as compared to the corresponding period last fiscal.
While revenues were Rs 1,491 crore (Rs 1,157 crore), profit after tax stood at Rs 79 crore (Rs 32 crore), according to a press release here.
At the operating level, consolidated EBIDTA for the quarter stood at Rs 203 crore (Rs 129 crore), a growth of 57 per cent. The figures are not strictly comparable as the first quarter of last year witnessed a labour strike, which resulted in loss of sales and profitability.
Adjusting for the strike, the growth in revenue and net profit after tax stood at 19 per cent and 21 per cent respectively, Jayesh Shah, Director and Chief Financial Officer, said.
He said Arvind’s brands and mega mart retail business registered growth of 34 per cent in difficult market conditions. “We are hopeful that we will achieve over 20 per cent growth this year.”
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.