Textiles maker Arvind today reported nearly three-fold rise in its consolidated net profit for the quarter ended June 30, at Rs 61 crore on account of higher sales and better operating margins.
The company had posted a net profit of Rs 22 crore in the corresponding period last year, Arvind said in a filing to the Bombay Stock Exchange (BSE).
The consolidated total income during the first quarter also increased by 39% to Rs 1,200 crore from Rs 863 crore in the year-ago period, it added.
Commenting on the results, Arvind Director and CFO Jayesh Shah said, "The growth across all the product segments is led by growth in domestic market on the back of strong B2C business model, which Arvind has created."
The revenue growth of 44% in branded apparel and retail business segments and 37% growth in textile business were the key driver for such a robust performance, the filing added.
Shah said with fall in cotton prices, the demand for fabrics, which has been sluggish for past few months, will increase.
"We believe that Arvind is well poised to achieve 15-20% revenue growth during the current year and also to maintain the operating margins," he added.
Reacting to the numbers, the shares of the company were trading 4% up at Rs 90.5 apiece during late afternoon on the BSE.
