Arvind gains on better than expected Q3 numbers

Stock is up over 2% at Rs 140.50

Arvind Ltd is up over 2% at Rs 140.5 on the Bombay Stock Exchange after the largest integrated textile and branded apparel players, posted a 42% rise in net profit for the quarter ended December 31, 2013 to Rs 93.8 crore as against Rs 65.85 crore in the corresponding period last fiscal mainly on the back of a 24% rise in income, which stood at Rs 1,208 crore for the quarter under review.

On a consolidated basis, the company posted a revenue growth of 26% to Rs 1,774 crore and net profit growth of 36% to Rs 102 crore for the quarter ending December 31,2013, as against Revenue of Rs 1,405 crore and net profit of Rs 75 crore for the same quarter last year.

Jayesh Shah, director and chief financial officer said: "The revenue of textiles segment has grown by 24% led by growth of 20% in denim, 21% in wovens fabrics and 35% in garments manufacturing. Our Brands & Retail business has registered very strong growth of 30%. We expect that the current growth momentum shall continue for the near future."

The stock hit a high of Rs 141.25 after the stock opened at Rs 138.25 which is also the low for the thus far. Earlier in the month the stock had hit its 52-week high of Rs 156.50.