Arvind Q4 profit up 6%

Textile maker Arvind Ltd on Wednesday said its fourth-quarter net profit rose 5.8 per cent to Rs 66.7 crore, from Rs 63 crore in the corresponding period of 2010-11. Net sales advanced to Rs 1,272.5 crore from Rs 1,191.78 crore, the company said in a filing to the Bombay Stock Exchange (BSE). For the year ended March 31, 2012, the company posted a net profit of Rs 435.87 crore, against Rs 164.87 crore in 2010-11. The company board recommended a dividend of 10 per cent (Rs 1 per share of Rs 10 each) for 2011-12. On a stand-alone basis, the company posted a net profit of Rs 62.5 crore for the quarter, against Rs 56 crore a year earlier. “The revenue expansion is driven by 44 per cent growth in brands and retail business and significant increase in prices of fabrics caused by high cotton prices," Arvind Director and CFO Jayesh Shah said. Shares in Arvind closed at Rs 77.10 on the BSE, down 13.47 per cent.