Home / Knowledge / News / Textiles / Q2FY15 standalone net up 4.13% at textile major Arvind
Q2FY15 standalone net up 4.13% at textile major Arvind
12
Nov '14
In its unaudited standalone financial results for the second fiscal quarter ending September 30, 2014, Indian textile major, Arvind Ltd reported a 4.13 percent year-on-year rise in net profits.

Arvind, an integrated textiles producer, said its standalone net profits grew 4.13 percent to Rs 97.14 crore in the second quarter of fiscal 2014-15 from Rs 93.28 crore in the corresponding quarter of 2013-14.

Standalone net sales in the reporting quarter at the biggest Indian denim producer, climbed slower by 2.14 percent to Rs 1264.46 crore from Rs 1237.87 crore from a year ago quarter.

Of this, the textile segment reported revenue of Rs 1224.62 crore, up 5.0 percent from Rs 1166.39 crore, while brand and retail segment turnover surged 54 percent from a year earlier quarter to Rs 22 crore.

Driven by other expenses, which went up 18.3 percent, cost of materials consumed ascended to Rs 1103.20 crore the quarter under review, up 6.56 percent from a year earlier quarter.

Profit from operations before other income, financial cost and exceptional items at Arvind, expanded 4.33 percent year-on-year to Rs 164.47 crore in the second quarter of fiscal 2014-15.

Second quarter of fiscal 2014-15 other income, mainly driven by sale of land and fixed assets, zoomed 68 percent to Rs 37.71 crore from Rs 22.44 crore in the same quarter of previous fiscal year.

The higher net income drove profit from ordinary activities before financial cost and exceptional items to Rs 202.18 crore from Rs 180.08 crore in the year ago quarter, up 12.27 percent.

Profit from ordinary activities after financial cost but before exceptional items in the reporting mounted to Rs 120.41 crore, a rise of 10.27 percent from the prior year quarter.

Profit from ordinary activities before tax at Arvind, which also retails renowned global apparel brands ascended 11.61 percent to Rs 117.4 crore in the quarter under review from Rs 105.18 crore.

“We are pleased to note that all our brands and retail formats achieved decent growth rates, although textile segment sales remained muted,” CFO, Jayesh Shah said. (AR)

Fibre2fashion News Desk - India

Must ReadView All

Textiles | On 9th Dec 2016

ACIMIT signs MoU with Pakistan textile bodies

In a bid to strengthen the trading in garments and textiles between...

Textiles | On 9th Dec 2016

‘Less demand may make it hard to achieve export target’

The $48 billion target for textiles and garment exports for 2016-17...

Textiles | On 9th Dec 2016

GST Council may decrease tax rates in future: CBEC

The goods and services tax (GST) Council might reduce the proposed...

Interviews View All

Sonia Agarwal
Whitenife

‘The terms eco-friendly and organic are common but everyone perceives them ...

Viral Desai
Zenitex Mill Pvt Ltd

Full of green energy

Sunil Kumar Sharma
Loknayak JPNSSSG Ltd

'The blend of cotton–linen yarn has high demand in the domestic and...

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Lynda Kelly
Suominen Corporation

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

Sonam & Paras Modi
SVA

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

Karan Arora
Karan Arora

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

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

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
December 2016

December 2016

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

SUBSCRIBE


Browse Our Archives

GO


Advanced Search