Arvind PAT up 31%, dividend at 10%

BS 200 SCORECARD

Arvind Mills has posted a 31 per cent growth in profit after tax (PAT) at Rs 127 crore for the year ended March 31, 2005, compared with Rs 97 crore for the year ended March 31, 2004.

Sales rose 17 per cent to Rs 1679 crore, while operating profit increased 10 per cent to Rs 389 crore (Rs 353 crore). The company's net profit for the fourth quarter grew 109 per cent to Rs 53 crore (Rs 25.16 crore).

The company's sales in the fourth quarter of 2004-05 were up 28 per cent at Rs 445 crore against Rs 348 crore a year ago. Operating profit in 2004-05 fourth quarter rose 28 per cent to Rs 112 crore from Rs 87 crore in 2003-04.

The textiles major also announced a dividend after a gap of seven years. Arvind Mills board has recommended a 10 per cent dividend for 2004-05.

"Acquisition of Arvind Brands would allow the parent company to leverage its expertise in fabric manufacturing and allow for a strong national brand in apparel to be built," said Sanjay Lalbhai, managing director, Arvind Mills.