Arvind Ltd posts Q3 net profit of Rs 35 crore

By

Maverick Martins

Published
Feb 4, 2020

Textile major Arvind Ltd reported a consolidated net profit of Rs 35 crore ($5 million) for the third quarter ended December, as against Rs 40 crore it had posted a year ago.
 

The company’s revenue for the October-December quarter was at Rs 1,869 crore, as against Rs 1,680 crore it had reported in the corresponding quarter of previous fiscal. Arvind Ltd’s total expenses during October-December stood at Rs 1,819 crore.
 
The results are not comparable with the previous year's period because of the demerger of the company's branded apparel business to Arvind Fashions Ltd with effect from November 30, 2018.

"Garment revenues were up given 23 percent higher garment volumes; AMD revenues were up 16 percent as businesses have started to scale-up. EBIDTA margin in Textiles improved because of the base effect, and lower input costs. Margins in the denim category saw some improvement from operating leverage. Higher garmenting volumes resulted in margin improvement as well,” Arvind Ltd said in a statement
 
On the outlook, the company said, "As suggested earlier, expect revenue to grow by about 9-10 percent and maintain EBITDA margin at around 10 percent for the full year."
 
Arvind Limited is a leading player in India’s textile and apparel market. It owns several private labels and licenses for international brands in India.