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Arvind's growth strategy leads to revenue hike
16
May '16
Indian textile and apparel giant, Arvind reported a rise of 14 per cent in consolidated revenue during fourth quarter of fiscal 2016, ended March 31, to Rs 2320 crore as compared to Rs 2041 crore in the corresponding quarter last fiscal, according to a statement filed by the company with BSE.

Commenting on the results, Jayesh Shah, director and chief financial officer of Arvind said, “Our textiles business continues to deliver a strong performance as we continue to pursue a calibrated growth strategy.”

“The brands business continues to demonstrate strong growth with 30 per cent CAGR for Q4. Our established power brands consolidated their market positions and recent additions in specialty retail formats got off to a strong start,” he said.

Consolidated EBITDA was up 14 per cent in Q4 FY16 to Rs 297 crore as compared to Rs 260 crore in the previous quarter. PAT also grew 14 per cent to Rs 110 crore as compared to Rs 97 crore in the previous corresponding quarter.

A dividend of 24 per cent was recommended for the year 2015-16.

Additionally, Shah also announced the launch of India's first true omni channel experience – NNNow.com by Arvind. This new initiative is Arvind's attempt to move away from the discount driven e-commerce market to a brand led shopping journeys.

It will link online and offline shopping experience for Indian consumers. (MCJ)

Fibre2Fashion News Desk - India

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