Home Fashion Arvind Ltd’s net profit down 15 pc in Q3

Arvind Ltd’s net profit down 15 pc in Q3


Arvind Ltd on Wednesday said profit after tax after exceptional items was lower by 15 percent to Rs 76 crore in the quarter ended December 31, 2016 as compared to Rs 90 crore in the corresponding quarter for the last fiscal.

Arvind aims at Rs 12,000 crore revenue from textile business in 5 years
Arvind Ltd is planning to foray into performance and functional clothing (active wear) and synthetics

The consolidated revenue for the quarter under review was at Rs 2,335 crore, grew by 15 percent against Rs 2,034 crore in the corresponding quarter of the previous year.

Consolidated EBITDA was lower by 8 percent at Rs 236 crore as against Rs 257 crore in the year-ago period.

“The performance for the quarter was reasonably good in light of the severe impact on the consumption experienced due to demonetization. Looking at the trends in December and first three weeks of January, we believe that revenue and profitability should return to normal levels during the current quarter,” said company’s Director and Chief Financial Officer Jayesh Shah.