Arvind Limited, India’s leading integrated textile and branded apparel player, has reported surge in the consolidate revenue by 4 per cent at Rs. 2,157 crore for the quarter ended 31st December, 2015 compared with Rs. 2,074 crore in the corresponding quarter of the previous year.
As per the press release from the company, consolidated EBIDTA was marginally lower at Rs. 281 crore as against Rs. 288 crore in the corresponding quarter of the previous year. Profit after tax (before exceptional items) was marginally lower at Rs. 105 crore as compared to Rs. 112 crore in the corresponding quarter for the last year on account of higher tax provision.
“The performance for the quarter has been satisfactory considering very challenging domestic markets. Following improvements in consumer sentiments, we expect performance in quarter 4 to be a stronger than corresponding quarter,” commented Jayesh Shah, Director & Chief Financial Officer.
Recently only, the Indian textile major unveiled its plans of increasing its number of outlets 1,100 to 10,000 in the next two years and also double the turnover of its premium fabrics brand such as Tresca.
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Headquartered in Ahmedabad, India, Arvind Limited is a textile manufacturer and the flagship company of the Arvind Group. The company is engaged in production of cotton shirting, denim, knits and bottomweights (Khakis) fabrics. It is considered as India’s largest denim manufacturer apart from being world’s fourth-largest producer and exporter of denim.