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Integrated textile and branded apparel player Arvind Limited posted 33 per cent decline in consolidated net profit for the quarter ended June 2015. Company's consolidated net profit stood at Rs 61 crore, down by 33 per cent from the Rs 91 crore net profit it registered during the corresponding period in last fiscal.
The company attributed reduction in net profit to higher tax provision. PAT, after providing for exceptional Items amounting to Rs 3 crore being the compensation of retrenchment of workers, is Rs 58 crore, a company statement said.
Consolidate revenue grew by 6 per cent at Rs 1,877 crore for the quarter ended June 2015 as against Rs 1,773 crore in the corresponding quarter of the previous year.
Consolidated Earnings Before Interest, Depreciation, Taxes and Amortization (EBIDTA) was up by 2 per cent at Rs 227 crore as against Rs 223 crore in the corresponding quarter of the previous year.
Commenting on the results as well as outlook of the company, Jayesh Shah, director and Chief Financial Officer said, "The performance of the company for quarter ending June 2015 is in line with our expectation; high growth in brands and retail business with movement towards profitability and steady growth in textiles business with improvement in bottom-line."
"Our brands and retail business showed strong growth of 14%. For the full year revenue growth is likely to be between 14-15 per cent with improvements in margins in our brands and retail segment."
