Arvind Mills Net Up To Rs 58.1 Cr

The company's turnover rose by 26 per cent to Rs 390.7 crore (Rs 310.2 crore) during the period. Operating profits registered a 23 per cent growth during the period to Rs 95. 8 crore, (Rs 77.6 crore).

The contribution of the other income declined to Rs 20.72 crore (Rs 36.72 crore). The improved performance is being attributed to the doubling of capacity of its 100 per cent EOU Arvind International.

l, and an impressive increase of 70 per cent in the turnover of branded garments business.

Profit before depreciation stood at Rs 89.6 crore (Rs 73.3 crore) and net

profit after providing for MAT was Rs 58.1 crore.

 

Exports increased to Rs 175.3 crore (Rs 155.2 crore) during the period.

Arvind Mills is poised to become the second largest denim producer in the world with the commissioning of the company's 40 million metres additional capacity based on rope-dyeing technology in January next year.

The improvement in the operating margins is as a result of higher realisation per metre on value added product mix, lower cost of cotton and a decline in the manpower cost after rationalisation measures during 1995-96, the release added.

Commenting on the company's half yearly results, Sanjay Lalbhai, managing director, Arvind Mills, said: Our outlook for the full year of 1996-97 appears promising as various strategic moves such as thrust on branded garments, high value-added fabric product mix, cost rationalisation and quantum increase in capacity have started yielding the desired results.''