Arvind records revenue of Rs. 1157 crore and Profit After Tax of Rs. 32 crore
by Adfactors PR
Ahmedabad, July 26, 2012:
Arvind Limited, one of the largest integrated textile and branded apparel players recorded Revenue of Rs. 1157 crores and Net Profit After tax of Rs. 32 crores for the quarter ended on 30th June 2012 as against Revenue of Rs. 1211 crores and Net Profit After tax of Rs. 61 crores for the previous quarter ended on 30th June 2011. At the operating level, consolidated EBIDTA for the Quarter stood at Rs. 129 crores. The financial performance for the Quarter is not comparable with that of previous Quarter ended 30th June 2011, on account of the Company’s operations for the getting affected on account of one-time event of strike of workmen in the month of June 2012.
Despite reduction in selling prices by 10%-14% in various textile products, caused by fall in cotton prices, revenue for Q1 was strong on account of robust growth in textile volumes and 9 % increase in revenue of brand & retail business
Commenting on the results as well as outlook of the Company, Mr. Jayesh Shah, Director & Chief Financial Officer said: “We had an abnormal situation due to the strike in 2 of our plants and hence it will be not appropriate to compare these results with that of previous year. Our textile business is witnessing strong growth and we are confident that in coming quarter there will be growth in volume as well as margins. ”