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Arvind Limited, one of the largest integrated textile and branded apparel players, posted a 42% rise in net profit for the quarter ended December 31, 2013 to Rs 93.8 crore as against Rs 65.85 crore in the corresponding period last fiscal mainly on the back of a 24% rise in income, which stood at Rs 1,208 crore for the quarter under review.
For the nine month period ending December 31, 2013 the company posted a 25.6% rise in total income to Rs 3,494 crore as against Rs 2781 crore in the year before period. Net profit for the nine-month period grew 51% to Rs 266.5 crore up from Rs 176.1 crore in the corresponding period last fiscal.
As far as segment revenues are concerned, the textiles division posted a 24% rise in income to Rs 1180 crore, while income from brand and retail operations doubled (108%) to Rs 18.76 crore during the third quarter of the current financial year. While the textiles division registered a 43% rise in profit before interest and tax to Rs 186.7 crore during the quarter, the brand and retail segment posted a loss of Rs 2.9 crore as against a loss of Rs 2.4 crore in the year before period.
On a consolidated basis, the company posted a revenue growth of 26% to Rs 1,774 crore and net profit growth of 36% to Rs 102 crore for the quarter ending December 31,2013, as against Revenue of Rs 1,405 crore and net profit of Rs 75 crore for the same quarter last year.
Jayesh Shah, director and chief financial officer said: "The revenue of textiles segment has grown by 24% led by growth of 20% in denim, 21% in wovens fabrics and 35% in garments manufacturing. Our Brands & Retail business has registered very strong growth of 30%. We expect that the current growth momentum shall continue for the near future."
