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Aarvee Denims Q3 net profit declines significantly

17
Feb '12
There has been a significant decline of 57.42 percent in the net profit posted by Ahmedabad-based Aarvee Denims & Exports Ltd for the quarter ended December 31, 2011.

The company registered net profit of Rs. 36.64 million during October-December period, as against its net profit of Rs. 86.04 million during the corresponding quarter of 2010.

However, there was a rise in the company's total income, which increased from Rs. 1.224 billion during the third quarter of 2010-11 to Rs. 1.590 billion during the Q3 of 2011-12, showing a growth of 29.87 percent.

During the first three quarters of the current fiscal, the company recorded a net profit of Rs. 108.10 million, down 60.56 percent from Rs. 274.09 million of net profit achieved during the initial nine months of fiscal 2010-11.

The overall income of the firm during the first nine months of fiscal 2011-12 rose to Rs. 4.727 billion, up 35.71 percent from total income of Rs. 3.483 billion recorded during April-December 2010.

Fibre2fashion News Desk - India


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