Arvind Q2 net profit at Rs 49.68 cr

Textile major Arvind Ltd on Friday reported a consolidated net profit of Rs 49.68 crore for the September quarter.

The company had posted a net profit of Rs 56.10 crore in the July-September quarter a year ago, the company said in a BSE filing.

Net sales during the quarter stood at Rs 1,962.19 crore as against Rs 1,792.91 crore in the year-ago quarter.

The results are not comparable with the previous year's period because of demerger of its branded apparel to Arvind Fashions Ltd with effect from November 30, 2018.

"To the extent, current quarter and half year ended on September 30, 2019, are not comparable with the quarter and half-year ended on September 30, 2018, and the year ended March 31, 2019," said Arvind.

Arvind's total expenses stood at Rs 1,900.40 crore.

Revenue from the textile segment was at Rs 1,647.86 crore and Rs 182.54 crore from the advanced material segment.

"Expect revenue to grow by about 9-10 per cent and maintain EBITDA (earnings before interest, taxes, depreciation, and amortization) margin at around 10 per cent for the full year," the company said.

Shares of Arvind Ltd on Friday settled at Rs 45.75 apiece on the BSE, up 0.33 per cent over previous close.