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Arvind’s Q4 net profit rises 14 percent | Canindia News

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Arvind’s Q4 net profit rises 14 percent

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CanIndia New Wire Service 0 comments

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Ahmedabad, May 12 (IANS) Arvind Ltd, one of India’s largest integrated textile players, on Thursday posted a 14 percent increase in its net profit to Rs.110 crore in the quarter ended March 2016 as against Rs.97 crore in the same quarter a year ago.

The apparel maker’s consolidated revenue grew by 14 percent to Rs.2,320 crore for the fourth quarter of 2015-16 as compared to Rs.2,041 crore in the corresponding period last year.

Consolidated earnings before interest, taxes, depreciation and amortisation (EBITDA) is up by 14 percent at Rs.297 crore as compared to Rs.260 crore in the corresponding quarter of the previous year, the company said in a filing to Bombay Stock Exchange (BSE).

“Our textiles business continues to deliver a strong performance as we continue to pursue a calibrated growth strategy. The brands business continues to demonstrate strong growth with 30 percent compound annual growth rate (CAGR) for fourth quarter,” said company’s director and chief financial officer Jayesh Shah.

The textile major remained bullish on the new initiative NNNow.com, an e-commerce space for fashion and lifestyle aiming to move away from the discount driven e-commerce market to a brand-led shopping.

The company reported 8 percent growth in revenue to Rs.8,450 crore in 2015-16 while its profit after tax and exceptional items for the year 2015-16 stood at Rs.363 crore as compared to Rs.341 crore in the previous year.

–IANS

bdc/lok/dg

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