Indian retailer Arvind Fashions reported a 36.6% rise in second-quarter profit on Monday, aided by sustained demand for its premium clothing brands.
The company, which retails clothing from international brands such as Arrow, Calvin Klein and Tommy Hilfiger, said its profit after tax rose to Rs 30 crore ($3.6 million) for the quarter ended Sept. 30 from 220 million rupees a year ago.
Its revenue from operations grew 8.5% to 12.73 billion rupees.
KEY CONTEXT
Indian retailers have been grappling with subdued demand due to intensifying competition and moderating discretionary spending as inflation accelerated in the quarter.
However, demand for premium products aimed at higher income consumers boosted the sales of companies, including Arvind Fashions.
Peer Shoppers Stop reported a loss in the second quarter as weaker discretionary spending weighed on the company's bottomline.
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