India: Arvind Limited posts 44% growth for Q2

Company Performance

India: Arvind Limited posts 44% growth for Q2

Arvind Limited, one of the largest integrated textile and branded apparel players posted a 44% growth its standalone net profit for the second quarter of current fiscal 2013-14.From Rs 648 mln in the second quarter of previous financial year 2012-13, the textile conglomerate's standalone net profit grew by 43.95% to Rs 932. 8 mln for the Q2 ended September 30, 2013.

Arvind's standalone revenue grew by 9.11% at Rs 11,928.9 mln for the quarter ended September 30, 2013 from Rs 10,932.7mln for the corresponding period last year. One of the largest integrated textile and branded apparel players, Arvind also registered a healthy consolidated net profit growth of 39% at Rs 900.5 mln in Q2 this year as against Rs 647.8 mln last year. In the same period, the company's consolidated revenue rose by 29.71% at Rs 17,182.3 mln, up from Rs 13,246.19 mln.

Jayesh Shah, director and chief financial officer, Arvind Limited said, "Buoyed by the all round volume growth as well as price gains across all business segments, the company has achieved very strong financial numbers. The growth in textiles segment is led by volume growth of 21% in wovens fabrics and 46% in garments manufacturing. Despite a challenging market scenario, Arvind's brands and retail business also registered a steady growth of 45%."