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Arvind to benefit from twin favourable factors
06
Dec '11
Ahmedabad-based textile conglomerate Arvind Limited is expecting to benefit from twin favourable factors – the rise in domestic demand and the decrease in China's cost competitiveness.

Although there was no major revival in international retail demand, the company booked a net profit of Rs. 620 million during second quarter of fiscal 2011-12, compared to a profit of Rs. 390 million recorded in the same period of fiscal 2010-11, registering a sharp increase of 58 percent.

Speaking to fibre2fashion, Mr. Milan Shah, Deputy Chief Financial Officer of Arvind Ltd. said, “We had a good performance in Q2 of 2011-12. This was mainly on account of good demand in the domestic market. Our performance was driven by the growth in the Indian market.”

“We have a portfolio of 9-11 brands in our branded and retail business. Our branded portfolio witnessed a growth of around 40 percent. We find that consumers are becoming more brand conscious and brands like Arrow and USPA, which are slightly up market, are doing well,” he adds.

“From a long term view, we are positive for the textile industry in 2012. This is mainly due to 2 reasons – the growing domestic market and a decline in competitiveness of China in the international market, where India should be able to catch up. So, we are fairly positive for the long term,” he reasons.

Fibre2fashion News Desk - India

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