Brands, textiles business push Arvind's Q1 net up by 11.31%

With is power brands consolidating its market position, leading integrated textile and branded apparel player Arvind has posted a 11.31% growth in its standalone net profit for the first quarter ended June 30, 2016.

As against a Q1 net profit of Rs 78.56 crore in the previous fiscal 2015-16, Arvind saw the same stand at Rs 87.45 crore for the quarter ended June 30, 2016, the company informed the BSE in its filing on Thursday. The company's standalone income grew by 12.13% to stand at Rs 1,489.47 crore for Q1 of FY17, as against Rs 1,328.29 crore for the said quarter last year.

On a consolidated basis, Arvind registered a growth of 32.92% in net profit after taxes, minority interest and share of profit of associates at Rs 73.36 crore, for the quarter ended June 30, 2016, compared with Rs 55.19 crore for the quarter ended June 30, 2015. "Total income has increased from Rs 1,813.85 crore for the quarter ended June 30, 2015, to Rs 2,123.74 crore for the quarter ended June 30, 2016," Arvind told BSE in its filing.

According to Jayesh Shah, director and chief financial officer, Arvind, financial growth in the first quarter came on the back of healthy business growth in textiles and branded apparels.

"Our textiles business, which recorded 14% revenue growth, continues to deliver a strong performance as we continue to pursue a calibrated growth strategy. The brands business continues to demonstrate strong growth with 26% growth in Q1. Our established power brands consolidated their market positions," Shah stated in an official communique.

Meanwhile, the company is bullish on its newly-launched omni channel — NNNow.com, going ahead. "We are also excited about India's first true Omni Channel experience — NNNow.com, which we launched during Q1. NNNow.com redefines shopping for Indian consumers by linking online and offline retail shopping experience," Shah further stated.