 "Arvind Q3 result: Profit jumps 13% on strong festive demand for textiles")
Indian clothing retailer Arvind Ltd reported a 13 per cent rise in its third-quarter profit on Tuesday, boosted by strong demand for textiles during the festive season.
The company, which retails international brands including Tommy Hilfiger, Arrow, and Calvin Klein, posted a consolidated net profit of Rs 103 crore ($11.90 million) in the quarter ended Dec. 31, up from Rs 91.7 crore a year earlier.
The festive season, running from September to January, traditionally contributes significantly to retailers' annual sales as consumer spending surges during the period.
Textile manufacturers capitalised on the steady demand by offering discounts to attract buyers, despite the headwinds from persistent inflation.
Arvind reported a near 11 per cent growth in revenue from operations, driven by an 11 per cent increase in revenue from its core textile segment, which accounts for 74 per cent of its total sales.
The textile segment saw strong volume growth during the quarter, aided by new customer acquisitions, while margins remained stable across segments, Arvind said in its investor presentation.
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Total expenses grew 10 per cent during the reported quarter as prices of cotton, its key raw material, remained elevated.
The advanced materials segment, through which Arvind makes fabrics and protective gear for construction work, grew 9 per cent.
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