Home Fashion Arvind Ltd Q1 profit up 13 pc to Rs 64 cr

Arvind Ltd Q1 profit up 13 pc to Rs 64 cr

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Textile and apparel player has reported 13.32 percent increase in consolidated net profit to Rs 64.31 crore for the first quarter ended June 30, 2018-19.

Arvind Ltd Q1 profit up 13 pc to Rs 64 cr
Textile and apparel player Arvind Ltd has reported 13.32 percent increase in consolidated net profit to Rs 64.31 crore for the first quarter ended June 30, 2018-19

According to a PTI report: The company had posted a net profit of Rs 56.75 crore in the April-June quarter of 2017-18.

Its total income during the quarter under review stood at Rs 2,874.59 crore. It was Rs 2,608.28 crore in the year-ago quarter, Arvind Ltd said in a BSE filing.

It said revenue from operations, part of total income, for the first quarter of the current fiscal is not comparable with that of the year-ago period.

“Post implementation of Goods and Service Tax (GST) with effect from July 1, 2017, revenue from operations is disclosed net of GST. Revenue from operations for the quarter ended June 30, 2017 included excise duty which is now subsumed in the GST. Revenue from operations for the year ended March 31, 2018 includes excise duty up to June 30, 2017,” it added.