Arvind Ltd Q4 profit jumps 18 percent to Rs 115 crore
Indian textile major Arvind Ltd saw its profit jump 18 percent to Rs 115 crore (approx $ 17.1 million) for the quarter ended March 2018 with an income of Rs 3004 crore (approx $ 446.3 million) due to strong performance across business segments led by its brand business.
The company had posted profit of Rs 98 crore (approx $ 14.7 million) in the corresponding quarter a year ago with income of Rs 2499 crore (approx $ 371.3 million).
Jayesh Shah, Director & Chief Financial Officer, Arvind Ltd, in a statement said, "Fourth quarter was a good quarter for our business with strong growth in both revenue and margins on the back of a sharp improvement in our brands business profitability. During the quarter, we saw weak demand trends in apparel industry especially towards the beginning of the quarter. However, demand started picking up in March and we expect similar growth trend to continue in the coming months."
"Our textile business remains on a firm footing and delivered good results in line with our expectations. While there have been short-term challenges on account of reduction in duty drawback rates and other export incentives, the medium-term outlook of the business remains strong”, he added.
Arvind Limited is a leading player in India’s textile and apparel market. Its brand includes Flying Machine, Tommy Hilfiger, Calvin Klein, Arrow, Gant, Nautica, Gap, and Aeropostale.
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