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Despite forex loss, Arvind reports hike in Q3 net profits
14
Feb '12
The biggest denim producer in India – Arvind Ltd reported a consolidated net profit of Rs 521.5 million or a 9 percent rise from a year earlier for the quarter ending December 31, 2012.

The growth in profits came even after writing off Rs 380 million in foreign exchange losses during the quarter, the company said.

In the corresponding quarter of fiscal 2010-11, Arvind reported a net profit of Rs 477.3 million. Arvind is omnipresent across the whole textile value-chain beginning from cotton to apparel retail.

Revenues also rose 18.64 percent for the third quarter where it stood at Rs 11.99 billion against Rs 10.03 billion in the same period of the last fiscal.

Chief Financial Officer – Mr Jayesh Shah said, “Growth of 32 percent in branded apparel and retail sales and 21 percent growth in revenues from the textile business led to an improved financial performance at consolidated level”.

Fibre2fashion News Desk - India

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