Arvind Limited Q1 profit rises 13 percent to Rs 64 crore

​Textile and apparel major Arvind Ltd reported a 13 percent increase in consolidated net profit to Rs 64 crore (approx $9.4 million) for the first quarter ended 30 June, 2018-19. It had posted a net profit of Rs 57 crore in the April-June quarter of 2017-18.

Arvind Limited Q1 profit rises 13 percent to Rs 64 crore - Arvind Ltd

The revenue of the firm also rose during the quarter to Rs 2,875 crore. It was Rs 2,608.28 crore in the year-ago quarter, Arvind Ltd said in a BSE filing.
 
However, revenue from operations, part of total income, for the first quarter of the current fiscal is not comparable with that of the year-ago period, the company added.
 
“Post-implementation of Goods and Service Tax (GST) with effect from 1 July 2017, revenue from operations is disclosed net of GST.
 
“Revenue from operations for the quarter ended 30 June 2017 included excise duty which is now subsumed in the GST. Revenue from operations for the year ended 31 March 2018 includes excise duty up to 30 June 2017,” it added.
 
The growth in profit and revenue was driven by brands like Arrow, US Polo Association, Flying Machine and Tommy Hilfiger. These brands witnessed strong growth of 16% during the quarter.
 
Commenting on the outlook, Arvind Ltd, said, “The Branded Apparel segment is likely to continue its industry leading 20% growth momentum and steady margin expansion is expected. Backed by garment expansion and new products, Textiles segment is likely to grow by 10% with improving margins.”

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