Home / Knowledge / News / Apparel/Garments / Arvind Q3 net up 35% on strong textile & retail growth
Arvind Q3 net up 35% on strong textile & retail growth
01
Feb '14
At a time when macroeconomic environment posed challenges for textile companies, thanks to stagnant economy, high inflation and higher interest rates, the textile major Arvind has reported better-than-expected earnings in the third quarter ended December 31, 2013.

Arvind, an integrated textile and branded apparel players based in India, has posted 35.56 per cent growth in its consolidated net profit at Rs 102.17 crore in the October-December quarter, helped by higher revenues in textile and retail segments.

A flagship company of the Lalbhai Group, the company had posted a consolidated net profit of Rs 75.37 crore in the corresponding period last year, Arvind said in a filing to Bombay Stock Exchange.

Net sales of company witnessed a surge of 27.98 per cent at Rs 1,792.20 crore in the December quarter as compared to Rs 1,400.36 crore in the same period last year, helped by good demand in the export market. The denim maker saw sharp rise in its export volume amid recovery in export markets like US and Europe.

In Q3 FY’14, the company’s total revenue rose by 26.26 per cent to Rs 1,774.28 crore from Rs 1,405.16 crore in the same period a year ago.

Segment wise, textile division’s revenue, which contributes 66 percent to total revenue, grew 24 percent on year-on-year basis to Rs 1,180.5 crore. On the other hand, retail, which accounts for 30 percent of total revenue, rose 30.5 percent to Rs 544 crore in the December quarter.

Commenting on performance, Arvind Ltd - Director and Chief Financial Officer, Jayesh Shah said, "The revenue of textiles segment has grown by 24 per cent led by growth of 20 per cent in denim, 21 per cent in woven fabrics and 35 per cent in garments manufacturing. Our brands and retail business has registered very strong growth of 30 per cent.”

Expressing optimism over future growth, he said that the company expects the current growth momentum to continue for the near future.

Fibre2fashion News Desk - India


Must ReadView All

Apparel/Garments | On 4th May 2016

Ahead of FTA talks with China, Lanka worried about TPP

Even as Sri Lanka prepares for the third round of talks for a Free...

Textiles | On 4th May 2016

IMF predicts Asian growth to remain strong

The International Monetary Fund (IMF) expects growth in Asia and the...

Courtesy: GMAC Cambodia

Apparel/Garments | On 4th May 2016

Cambodia’s garment exports rise 13% in Q1

Garment and footwear exports from the Southeast Asian nation of...

Interviews View All

Vivek Kumar Rawal
BioRe India Ltd.

How is the demand for Indian organic cotton in the world market? What is...

Peter Manns
Coats Southern Africa

How is the market for sewing threads faring in South Africa and how will...

Imran Lateef
Texlynx

What are the current trends noticed in textile and garment sourcing in the ...

Urs Stalder
Sanitized AG

<b><i>Urs Stalder, CEO, Sanitized AG, talks about the increasing use of...

Paige Mullis
Glen Raven Inc

<i><b>Paige Mullis</b> discusses the expansion plans of Glen Raven Inc in...

Carlos Richer
Richer Investment

Mr. Carlos Richer is the Director of Richer Investment, Diaper Consulting...

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
April 2016

F2F Magazine

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


<%@ language="VBScript" %>
feedback
We would love to hear from you about your experience using the new interface. A quick review of yours would help us give you a better experience.
Advanced Search