 "Arvind Fashions Q4 results: Profit jumps two-fold to 24 cr, revenue up 4%")
Indian retailer Arvind Fashions reported a more than two-fold rise in fourth-quarter profit on Tuesday, aided by steady demand for premium clothing brands.
The company, which retails clothing from brands such as Arrow, Calvin Klein and Tommy Hilfiger, reported a consolidated net profit of Rs 24.32 crore ($2.92 million) up from Rs 10.91 crore a year ago.
Its revenue from operations rose nearly 4% to Rs 1,094 crore.
KEY CONTEXT
Indian retailers have been grappling with slower volume growth amid heightened competition and had to offer heavy discounts to sway customers, hurting their topline.
Also Read
However, demand for premium products aimed at high-income consumers remains a key driver of sales growth.
Rival Shoppers Stop reported a 53% rise in fourth-quarter profit last month, helped by demand in its beauty and luxury segments.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)