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Q1FY16 sales climb 6% at denim fabric producer Arvind
07 Aug '15
2 min read
Consolidated revenue at India's largest denim producer and also branded apparel marketer Arvind Limited climbed 6 per cent year over year for the three months to June 30, 2015.
For the first quarter of fiscal 2016, Arvind, also one of the largest integrated textile and branded apparel players in India, reported growth in consolidated revenue of 6 per cent over the prior fiscal first quarter at Rs 1,877 crore.
“The Brands and Retail business showed strong growth of 14 per cent year on year in the first quarter of current fiscal,” a press release from Arvind informed.
Consolidated EBIDTA stood at 2 per cent at Rs 227 crore in the reporting quarter as against Rs 223 crore in the corresponding quarter of the previous fiscal.
However, profit after tax, before exceptional items in the quarter under review slipped 33 per cent to Rs 61 crore as compared to Rs 91 crore in the first quarter of earlier fiscal, on account of account of higher tax provision.
Net profit after providing for exceptional items amounted to Rs 3 crore, due to Rs 58 crore compensation paid for retrenchment of workers.
CFO Jayesh Shah said, "The performance for the quarter is in line with our expectations; high growth in brands and retail business with movement towards profitability and steady growth in textiles business with improvement in bottom-line.”
For the full year, Arvind expects revenue growth to be between 14-15 per cent with improvements in margins in its Brands and Retail segment.
Arvind has carved out an aggressive strategy to verticalise its current operations by setting up world-scale garmenting facilities and offering a one-stop shop service, by offering garment packages to its global and domestic customers.
With its growing global footprint, Arvind has carved a niche with brand names like Arrow, Flying Machine, USPA, New Port, Mega Mart and The Arvind Store.
Arvind is present in major segments like fabrics, garments, advanced materials, chemicals & dyes, retail, engineering, real estate, sustainable agriculture and telecom. (AR)
For the first quarter of fiscal 2016, Arvind, also one of the largest integrated textile and branded apparel players in India, reported growth in consolidated revenue of 6 per cent over the prior fiscal first quarter at Rs 1,877 crore.
“The Brands and Retail business showed strong growth of 14 per cent year on year in the first quarter of current fiscal,” a press release from Arvind informed.
Consolidated EBIDTA stood at 2 per cent at Rs 227 crore in the reporting quarter as against Rs 223 crore in the corresponding quarter of the previous fiscal.
However, profit after tax, before exceptional items in the quarter under review slipped 33 per cent to Rs 61 crore as compared to Rs 91 crore in the first quarter of earlier fiscal, on account of account of higher tax provision.
Net profit after providing for exceptional items amounted to Rs 3 crore, due to Rs 58 crore compensation paid for retrenchment of workers.
CFO Jayesh Shah said, "The performance for the quarter is in line with our expectations; high growth in brands and retail business with movement towards profitability and steady growth in textiles business with improvement in bottom-line.”
For the full year, Arvind expects revenue growth to be between 14-15 per cent with improvements in margins in its Brands and Retail segment.
Arvind has carved out an aggressive strategy to verticalise its current operations by setting up world-scale garmenting facilities and offering a one-stop shop service, by offering garment packages to its global and domestic customers.
With its growing global footprint, Arvind has carved a niche with brand names like Arrow, Flying Machine, USPA, New Port, Mega Mart and The Arvind Store.
Arvind is present in major segments like fabrics, garments, advanced materials, chemicals & dyes, retail, engineering, real estate, sustainable agriculture and telecom. (AR)
Fibre2Fashion News Desk – India
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