by Apparel Resources News-Desk
17-May-2019 | 2 mins read
Arvind Limited, a pioneer among denim manufacturers, recorded a sluggish revenue growth for the fourth quarter of 2018-19 at Rs. 1,859 crore.
This is 1 per cent rise from Rs. 1,843 crore in the corresponding period of the last fiscal.
“Denim volumes were lower by 30 lakh metres in the year-on period, although they grew by the same number compared to sequential quarter,” the company mentioned in a statement. “This was offset by 52 per cent surge in revenue of advanced materials business,” it also added.
Besides, the company said that the earnings before interest, tax, depreciation and amortisation (EBITDA) rose by 4 per cent to reach Rs. 184 crore from Rs. 176 crore in the same period.
Notably, profit after tax (PAT) before exceptional items increased by 14 per cent to Rs. 68 crore from Rs. 60 crore in the fourth quarter of FY18, whereas PAT after exceptional items was Rs. 63 crore, up 8 per cent from Rs. 59 crore.
In October 2018, Arvind received a nod from the National Company Law Tribunal for demerging its branded apparel and engineering businesses into separate entities.
Since 2011, Arvind has been instrumental in bringing some of the biggest global fashion brands to India, including the likes of Calvin Klein, Tommy Hilfiger, Gap, Ed Hardy, Hanes, Nautica and Elle.
Sanjay Lalbhai-led Arvind is a billion dollar (about Rs. 7,000 crore) diversified Indian conglomerate with business interests in fabrics and apparels, brands and retail, real estate, engineering, internet, telecom, environmental solutions and advanced materials.
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