Published
May 20, 2019
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Arvind Ltd reports net profit of Rs 67 crore for Q4

Published
May 20, 2019

Textile and apparel major Arvind Ltd reported a net profit of Rs 67 crore ($9.6 million) for the fourth quarter ended March 31, 2019. The company had posted a profit of Rs 115 crore in the same quarter last fiscal.
 

Arvind Ltd reports net profit of Rs 67 crore for Q4 - Arvind Limited


The company’s revenue grew just 1 percent to Rs 1,879 crore during the quarter as against Rs 1,863 crore in had reported in the year-ago period.
 
Arvind said that the results are not comparable with the previous year’s period due to the demerger of branded apparel undertaking of the company to Arvind Fashions Ltd.

"Denim volumes were lower by 30 lakh metres in the year-on period although they grew by the same number compared to sequential quarter. This was offset by a 52 percent increase in revenue of advanced materials business,” the company said in a statement.
 
On the future growth outlook, Arvind Ltd said, “The company expects to grow its revenue by about 8% and maintain margin [percentage] at current levels in the next financial year.”
 
Arvind Ltd also extended the tenure of Jayesh K Shah as director and group chief financial officer of the company for a period of five years from October 1, 2019.
 
Arvind Limited is the largest textile company in India with revenues of USD 1 billion. Its fashion entity Arvind Fashions Ltd had posted a net profit of Rs 21 crore with revenue of Rs 1169 crore for the fourth quarter.

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