Textile firm Arvind Ltd today posted a consolidated net profit of Rs 32.47 crore for the quarter ended June 30, 2012.
The company had posted a net profit of Rs 61.05 crore for the same period of previous fiscal, Arvind said in a filing to the BSE.
It added that the financial performance for the quarter is not comparable with that of previous quarter last year as the company's operations were affected by strike in June 2012.
"We had an abnormal situation due to strike in two of our plants hence it will not be appropriate to compare these results with that of previous year," Arvind Ltd Chief Financial Officer Jayesh Shah said.
Net sales of the company stood at Rs 1,176.99 crore for the quarter ended June 30. It was Rs 1,190.66 crore during the same quarter of previous fiscal.
Shah added that the textile business is witnessing strong growth and the company is confident that in coming quarter there will be growth in volume as well as margins.
Shares of Arvind Ltd today closed at Rs 69.90 on the BSE, down 2.44% from its previous close.
