Home / Knowledge / News / Textiles / Net profit shoots up at Arvind Ltd in Q2
Net profit shoots up at Arvind Ltd in Q2
31
Oct '09
Arvind Limited, one of the largest integrated textile, apparel and branded apparel players earned Net Profit at Rs. 15.19 crores for the 2nd quarter of current year as against Net Profit of Rs. 1.64 crores in the corresponding quarter of the previous year on account of volume growth, higher price realization and lower energy cost.

During the Quarter Company completed the demerger of its Brands & Retail business in to separate 100% owned subsidiary companies with effect from 1st April 2009. Hence the results are not comparable. Excluding the figures of now demerged brands & retail businesses the revenue for the quarter are up by 25% at Rs.600 crores as against Rs.479 crores in the corresponding quarter of the previous year. At the operating level, EBIDTA increased by 44% at Rs.84 crores as against Rs. 58 crores for the corresponding quarter of the previous year.

During the quarter under review Denim fabric registered growth of 25% in volumes over the corresponding quarter of previous year, following 17% growth in export volume and 31% growth in domestic volume as a result of company's aggressive market share acquisition plan in domestic market. Domestic volume now constitutes 52% of the total volume of Denim fabric. As far as Shirting fabric is concerned, the twin approach of product differentiation & price competitiveness has led to 35% growth in the domestic branded apparel and retail market. The Company has set-up 500 shop-in-shop counters for retaining functional & performance fabrics called “intellifabrix” across the country. Brand & Retail Businesses also grew by 24% during the quarter.

Commenting on the results, Mr. Jayesh Shah, Chief Financial Officer and Director said: “The turnaround in the business which started from the first quarter as a result of aggressive initiatives taken by the company on various fronts like new customer acquisition in export markets, retail thrust in the domestic market, productivity improvements and cost rationalization is extending in this quarter also. The outlook for the year remains positive as result of robust demand for all the product categories and lower energy cost. ”

Mr. Jayesh Shah further stated that “while the Board of Directors of the Company has passed an enabling resolution to raise equity of Rs. 250 cr. there are no immediate plans to raise the Capital.”

Arvind Limited

Must ReadView All

Textiles | On 28th Mar 2017

India may impose duty on elastomeric filament yarn

The Government of India is likely to impose anti-dumping duty on...

Courtesy: Kraig Laboratories

Textiles | On 28th Mar 2017

Kraig gets certificate for silk production in Vietnam

Kraig Biocraft Laboratories, Inc., a leading biotechnology company...

Information Technology | On 28th Mar 2017

Intex Consulting signs partnership with Kawan Era Baru

Germany based Intex Consulting GmbH has entered into a strategic...

Interviews View All

Jurgen Gauger
Spreadshirt

‘Buying crowdsourced or creative designs are much more appealing to the...

C Kamatchisundaram
Voltas

ITME is an occasion not only to receive new leads but also to work on...

Smarth Bansal
Colorjet India Limited

We would like to venture more companies into the Indian market

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Eamonn Tighe
Nature Works LLC

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

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

Sanjukta Dutta
Sanjukta's Studio

<b>Sanjukta Dutta</b> creates unique garments by clubbing prints of...

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
March 2017

March 2017

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

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search