Arvind net profit up 3% to Rs 97 crore

Muted growth in textile business and higher interest cost limit profit growth

Led by a healthy growth in its brands & retail and real estate businesses, Arvind Limited has posted a 3.56 per cent rise in its consolidated net profit for the second quarter ended September 30 of current fiscal 2014-15 over the same period last year.  

The company earned a consolidated net profit of Rs  93.26 crore for Q2 FY ‘15 as compared Rs  90.05 crore for the said quarter last year. One of the largest integrated textile and branded apparel players, Arvind Ltd also recorded growth in the consolidated revenue by 14 per cent at Rs  1965 crore for the quarter ended September 30, 2014, as against Rs  1,718 crore in the corresponding quarter of the previous year.

According to Jayesh Shah, director and chief financial officer at Arvind Ltd, the growth is being attributed to the company’s brands and retail business segment.

“The revenue growth of 14 per cent is led by 29 per cent growth in Brands & Retail business with growth of textile business remaining muted. We are pleased to note that our all brands as well as retails formats have achieved decent growth,” said Shah.