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Brands & Retail segment of Arvind Mills show healthy growth
12
May '08
Arvind Mills Limited, one of the largest integrated textile players in the world have announced their financial results for financial year ended 31st March, 2008.

The sales for the year are up by 23% at Rs.2271 crores as against Rs. 1848 crores in the last financial year. Profit after tax and before extraordinary items was up by 8% at Rs.27.36 crores compared to Rs. 25.27 crores in the previous financial year.

Previous year had an extraordinary income of Rs. 94.29 crores, hence Profit after tax and extraordinary items was Rs.120 crores. The operating profit for the year at Rs.304 crores is 5% lower than the previous year figure of Rs. 321 crores. Keeping in mind the current profit levels the board of directors has not recommended any dividend for the year.

The sales during the fourth quarter stood at Rs. 665 crores as against Rs.491 crores in the corresponding quarter last year. Profit after tax is Rs. 5 crores same as in corresponding quarter last year.

Commenting on the results, Mr. Jayesh Shah, Chief Financial Officer and Director, Arvind Mills said, “While the company's fabric business continues to maintain the current profitability despite the downturn in denim, the rising cotton & fuel prices and the appreciating rupee, the Brands and Retail businesses have been showing steady and healthy growth”.

As a strategy to tap the fast growing market for branded apparel retailing, the company is signing up licensing agreements with leading companies to bring in international brands and also build its portfolio of own brands.

The company's first Megamart Outlet Centre launched in Chennai in January 2008 - which will also be the largest value mall in the city - housing a gamut of categories including men women & kids wear, accessories, luggage, footwear etc. from leading brands.

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Arvind Mills Limited

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