Arvind Mills net down 36%

BS 200 SCORECARD

Ahmedabad-based Arvind Mills has reported a 35.71 per cent drop in net profit at Rs 18 crore for the quarter ended June 30, 2004, against a net profit of Rs 28 crore reported during the same period of the previous fiscal year.

Turnover in the quarter stood at Rs 396 crore (Rs 375 crore). Operating profit fell to Rs 89 crore (Rs 98 crore). The company has blamed high cotton and naphtha prices for the operating margin of the company.

Jayesh Shah, chief financial officer, said: "In spite of resurgent denim demand, the results of the current quarter have been adversely affected by increased input cost. The power and fuel cost rise would be addressed once the captive power plants shift to gas as fuel."