Arvind net up by 6.7%

Backed by revenue growth in its various business segments, Ahmedabad-based integrated textile and branded apparel player Arvind Ltd has registered a 6.78 per cent growth in its consolidated net profit for the third quarter ended December 31, 2014. The company's Q3 net profit of fiscal 2014-15 grew to Rs 109.10 crore, up from Rs 102.17 crore for the corresponding quarter last year. The company's total consolidated income grew by 17.08 per cent at Rs 2088.73 crore for the quarter ended December 31, 2014, as against Rs 1783.90 crore for the quarter ended December 31, 2013. According to Jayesh Shah, director and chief financial officer of Arvind Ltd., the revenue growth of 17 per cent is led by segmental growth of 22 per cent in brands and retail business as well as nine per cent in textiles business of the company. On the standalone basis, the company posted a similar growth of around 5.68 per cent in its net profit of Rs 99.21 crore for the quarter ended December 31, 2014 as compared to Rs 93.87 crore for the quarter ended December 31, 2013. The total standalone income of Arvind Ltd., on the other hand, grew by 10.68 per cent to Rs 1352.88 crore for the quarter ended December 31, 2014. In the corresponding period last year, the company had registered a total standalone income of Rs 1222.32 crore. However, in near future, the company is expecting strong global demand for textiles, leading to similar revenue growth. "While see strong global demand for textiles, Indian retail demand is not as expected. We expect revenue growth of 14-15 per cent for this financial year and hope to maintain operating margin at current level," Shah added.