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Home / Knowledge / News / Textiles / Arvind Q4 revenue up 21% at ₹2,990 crore
Arvind Q4 revenue up 21% at ₹2,990 crore
11
May '18
Courtesy: Arvind
Courtesy: Arvind
Arvind limited has recorded consolidated revenue for the fourth quarter stood ₹2,990 crore, a growth of 21 per cent over the corresponding quarter of the previous year due to strong performance across business segments. Consolidated EBIDTA grew by 29 per cent to ₹292 crore as compared to ₹226 crore in the corresponding quarter of the previous year.

Profit after tax before exceptional items grew by 7 per cent to ₹110 crore as compared to ₹102 crore in the corresponding quarter for the last year due to higher tax provisions. Profit after Tax after exceptional items was ₹109 crore as compared to ₹93 crore in corresponding quarter in previous financial year.

For the financial year 2018, the company reported 16.9 per cent growth in revenue to ₹10,826 crore. Profit after Tax after exceptional items stood at ₹309 crore as compared to ₹315 crore in the previous financial year.

"Fourth quarter was a good quarter for our business with strong growth in both revenue and margins on the back of sharp improvement in our brands business profitability. During the quarter, we saw weak demand trends in apparel industry especially towards the beginning of the quarter. However, demand started picking up in March and we expect similar growth trend to continue in the coming months. Our textile business remains on a firm footing and delivered good results in line with our expectations. While there have been shorter term challenges an account of reduction in duty drawback rates and other export incentives, the medium term outlook of the business remains strong. Finally on the business restructuring, the process of demerger is proceeding as per expectations and we expect the three companies to list separately within next 4-5 months," Jayesh Shah, director and chief financial officer, said. (RR)

Fibre2Fashion News Desk – India


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