Arvind Q3 net soars seven-fold to Rs 48 cr

Textiles firm Arvind today reported over seven-fold jump in its consolidated net profit for the quarter ended December 31, 2010, at Rs 47.66 crore, mainly on account robust performance by branded apparels.

The company had posted a net profit of Rs 6.70 crore in the corresponding period previous year, Arvind said in a statement.

The consolidated total income during the third quarter this fiscal also increased by 21.69 per cent to Rs 1,003.59 crore from Rs 824.68 crore in the year-ago period, it added.

"The growth in consolidated revenue for the quarter is fuelled by impressive growth of 57 per cent revenue growth in branded apparel and retail business segments," the company said.

The revenue in denim segment was up 39 per cent and that of shirting and khaki grew by 22 per cent.

Commenting on the outlook, Arvind Director and Chief Financial Officer Jayesh Shah said: "We are witnessing growth in all our business segments. With increase in denim and shirting capacity in the fourth quarter, our revenue and profitability will get further boost."

The company's plan for expansion of fabric manufacturing capacity to 300 million meters from current 200 million meters over the next few years is on stream, he added.

The shares of the company today closed 1.09 per cent up at Rs 64.80 a piece on the Bombay Stock Exchange.