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Integrated textile and apparel player Arvind Ltd posted a profit of Rs 62 crore in the second quarter, a 58 per cent growth from Rs 39 crore in the corresponding period last year, thanks to a 46 per cent growth in the apparel and retail business segments.
The consolidated revenue for the quarter is up 23 per cent at Rs 1,256 crores (Rs 1,025 crore).
Textile business has improved the margins despite a sharp increase in raw material costs, and operating margins have improved on account of improvement in EBITDA margin in textile business, a press statement said.
“We believe that Arvind is well poised to achieve 20 per cent revenue growth during the current financial year on account of robust growth in the brands and retail businesses and capacity expansion in woven fabrics,” Mr Jayesh Shah, Director and Chief Financial Officer, said in a press statement.
“We should be able to maintain the operating margins as we expect cotton prices to remain stable at the current level,” Mr Shah added.
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