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

Textiles | On 21st Aug 2017

Telangana announces sops for textile, apparel sector

The Telangana government recently announced a string of incentives,...

Textiles | On 21st Aug 2017

India’s cotton production may grow by 3.76% in 2016-17

India’s cotton production is likely to rise by 3.76 per cent to 345...

Textiles | On 21st Aug 2017

Turkish apparel exports fall 6.11% in H1 2017

Apparel exports from Turkey declined by 6.11 per cent in the first...

Interviews View All

Yash Agarwal
Hitansh Online

Every market region has its own culture and trends

Saket Garg
Garg Corporation

The biggest challenge is lack of skilled workforce and competition from...

Karan Suratwala
Key Textile Accessories Private Limited

Chinese imports are destroying the supply chain

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Akta Adani
India Boulevard

India Boulevard is a San Francisco-based curated fashion marketplace that...

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

Karan Arora
Karan Arora

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

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

August 2017

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

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
67.7%
No
16.1%
Skip
16.1%

Total Votes: 31

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
45.2%
No
35.5%
Skip
19.4%

Total Votes: 31

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
83.9%
No
6.5%
Skip
9.7%

Total Votes: 31

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
61.3%
No
9.7%
Skip
29.0%

Total Votes: 31


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search