Textiles maker Arvind Ltd today posted a consolidated net profit of Rs 242.95 crore for the third quarter ended December 31, 2011, on robust growth in branded apparel and retail business segments.
The company had posted a net profit of Rs 47.66 crore in the corresponding period of previous fiscal, Arvind Ltd said in a filing to the BSE.
Due to ongoing scheme of amalgmation, figures of the quarter and nine months ended December 31, 2011 have been re-worked and restated giving effect to the scheme and hence are not comparable with figures of same period previous fiscal, it added.
Net sales of the company stood at Rs 1,199.78 crore for the third quarter ended December 31, 2011, while it was Rs 983.61 crore in the same period previous fiscal.
Commenting on the results Arvind Ltd Director and CFO Jayesh Shah said: "The revenue growth of 32% in branded apparel and retail business segments and 21% revenue growth in textile business were the key drivers for improved financial performance at the consolidated level."
On a standalone basis, the company posted a net profit of Rs 249.91 crore for the third quarter ended December 31, 2011, while it stood at Rs 31.42 crore in the same period previous fiscal.
Shares of Arvind were trading at Rs 102.60 on the BSE in the late afternoon trade, up 0.69% from its previous close.
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