Aarvee Denim Q4 net down by 46.51%

Aarvee Denim and Exports Limited witnessed a 46.51 per cent decline in its net profit for fourth quarter ended March 31, 2012 at Rs 3.22 crore. The Ahmedabad-based denim major posted a Rs 6.02 crore profit after tax for the corresponding period last year. The company also registered a 58.03 per cent drop in net profit for financial year ended March 31, 2012. As against Rs 33.43 crore for the previous year, the company saw a net profit of Rs 14.03 crore in the current year. In terms of income, it saw a rise of 28.76 per cent at Rs 188.73 crore for Q4 of FY '12 as against Rs 146.57 crore in the corresponding period previous year.