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Despite inflationary and weak consumer sentiments, Arvind Limited, one of the largest integrated textile and branded apparel players has recorded a 36.13 per cent rise in its standalone net profit for the fourth quarter ended on March 31, 2013.
The company posted a standalone Q4 net profit of Rs 85.11 crore as against Rs 62.52 crore for the corresponding period last year.
In terms of standalone revenue for Q4, Arvind Limited registered a growth of 17.7 per cent at Rs 998.63 crore up from Rs 847.90 crore for corresponding period last year. However, for the fiscal year ended on March 31, 2013 the company's standalone net profit fell by 39.84 per cent at Rs 261.22 crore as against last year's Rs 434.23 crore.
"It is very heartening to note that despite very challenging macroeconomic environment with high inflation and weak consumer sentiments as well as unforeseen event of labour strike in the first quarter we not only recorded revenue growth but also improved profitability. Currently all the business verticals are performing well and based on the growth momentum they have attained, we are hopeful to grow by 20 per cent during the year 2013-14," said Jayesh Shah, director and chief financial officer of Arvind Limited.
At Rs 75.79 crore, the textile conglomerate's consolidated net profit for the fourth quarter grew by 13.66 per cent up from Rs 66.68 crore for the said quarter last year.
The consolidated revenue, however, grew by only 10 per cent at Rs 1406.11 crore as against Rs 1278.10 crore of last year. The company's fiscal year ended consolidated net profit stood at Rs 248.41 crore for March 31, 2013 as compared to Rs 435.87 crore of previous fiscal 2011-12, registering a decline of 43 per cent. Meanwhile, Arvind registered a consolidated revenue for fiscal year ended March 31, 2013 of Rs 5292.52 crore as against previous fiscal's Rs 4925.12 crore, witnessing a rise of 7.46 per cent.
