Arvind gains on decent Q3 results

Arvind rose 2.36% to Rs 298.95 at 14:40 IST on BSE after consolidated net profit rose 6.78% to Rs 109.10 crore on 17.08% rise in total income to Rs 2088.73 crore in Q3 December 2014 over Q3 December 2013.

The Q3 result was announced during market hours today, 5 February 2015.

Meanwhile, the BSE Sensex was up 336.01 points, or 1.16%c, to 29,219.12.

On BSE, so far 6.61 lakh shares were traded in the counter, compared with an average volume of 3.55 lakh shares in the past one quarter.

The stock hit a high of Rs 303.95 and a low of Rs 290 so far during the day. The stock hit a 52-week high of Rs 341.40 on 19 September 2014. The stock hit a 52-week low of Rs 134.80 on 14 February 2014.

The stock had underperformed the market over the past one month till 4 February 2015, rising 3.56% compared with 3.57% rise in the Sensex. The scrip had also underperformed the market in past one quarter, falling 2.84% as against Sensex's 3.67% rise.

The mid-cap integrated textile and branded apparel company has equity capital of Rs 258.24 crore. Face value per share is Rs 10.

Consolidated earnings before interest, taxes, depreciation and amortization (EBITDA) rose 16% to Rs 288 crore in Q3 December 2014 over Q3 December 2013.

Commenting on the results of the company, Mr. Jayesh Shah, Director and Chief financial officer said: The revenue growth was led by 22% growth in brands and retail business with textile business growing at 9%. While, we see strong global demand for textiles, Indian retail demand is not as expected. We expect revenue growth of 14-15% for this financial year and hope to maintain operating margin at current level, he said.

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