Arvind net down 84% at Rs 2 cr

Arvind, one of the largest integrated textile and apparel players in India, has posted a net profit of Rs 2 crore for the quarter ended September 30, 2008, 84 per cent down from the Rs 11 crore posted during the corresponding previous year.

The sales for the quarter increased by 6 per cent to Rs 599 crore for the period, as against Rs 564 crore in the corresponding quarter last financial year.

Jayesh Shah, diector and chief financial officer said in spite of better performance, the input cost and foreign exchange loss has resulted in substantially lowering business profits.