Textile major Arvind Ltd has posted a standalone net profit of Rs 87 crore for the first quarter ended June 2016 against Rs 79 crore reported in the same period last year, up 10 per cent on year-on-year basis.
The company’s net income from operations stood at Rs 1,466 crore during the quarter against Rs 1,299 crore in the corresponding quarter last year.
On a consolidated basis, the company’s net profit stood at Rs 113 crore against Rs 60 crore, up 88 per cent on year-on-year basis. Total income from operations stood at Rs 2,104 crore (Rs 1,787 crore).
Consolidated EBIDTA was up 16 per cent at Rs 241 crore against Rs 208 crore.
Jayesh Shah, Director and Chief Financial Officer, said, “Our textiles business, which recorded 14 per cent revenue growth, continues to deliver a strong performance. The brands business continues to demonstrate strong growth with 26 per cent growth in Q1. Our established power brands consolidated their market positions.’’
Arvind shares surged 4.5 per cent to close at Rs 306.50 on the NSE.