India’s Arvind Limited continues to grow as Q4 profit reaches Rs. 115 Cr

Indian textile and apparel conglomerate Arvind Limited has released the financial results of the fourth quarter ended March 31, 2018.

During the reporting period, the textile manufacturer reported an 18 per cent increase in profits to Rs. 115 crores as compared to Rs. 98 crores in the same quarter last year.

The strong performance across business segments led by its brand business helped the textile major to note total income during the reporting period Rs. 3,004 crores as compared to Rs. 2,499 crores in the corresponding period of the previous fiscal.

Notably, Flying Machine, Tommy Hilfiger, Calvin Klein, Arrow, Gant, Nautica, Gap, and Aeropostale are the major brands marketed by Arvind.

“Despite initial weak demands trends in apparel industry during reporting quarter turned out to be good for our business,” stated Jayesh Shah, Director & Chief Financial Officer, Arvind Ltd. in a statement.

The textile company, which is eyeing expansion of its operations, is hopeful of similar growth trend in the coming quarters as well.

The company has even inked deals with Gujarat and Jharkhand Governments to make investments worth Rs. 300 crores and Rs. 400 crores, respectively, for the establishment of manufacturing units.

The upcoming manufacturing unit in Dahegam (Gujarat) will produce over 24 million garments. While job opportunities for around 10,000 youths, especially women will be created by the facility in Jharkhand.