For the quarter ending June, India's biggest denim manufacturer Arvind recorded a profit of Rs 200 million as compared to loss of Rs 30 million, which was recorded in the same period last year.
Branded garments and their retails business segments have been the driving force behind this growth, which witnessed 66 percent growth in revenue and 103 percent increase in operating profits.
Further more, with the help of an investment of Rs 1 billion, the firm is planning to improve its production capacity in both denim and woven fabric sectors by 16 million metres. The hiked capacities are likely to turn operational from the third quarter of FY11.
Overall profit of the firm stood at Rs 190 million for the quarter that ended in June as compared to Rs 90 million, registered last year in the same period, indicating rise of 108 percent.
The firm's combine earnings rose by 11 percent during the first quarter of FY11 at Rs 8.65 billion from Rs 7.81 billion recorded during the same period last year.
Fibre2Fashion News Desk - India
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