An all-round volume growth in the buoyant textile industry has resulted in denim major Arvind Ltd registering a whopping 611 per cent growth in consolidated net profit for the quarter ended December 31 to Rs 48 crore from Rs 7 crore in the corresponding quarter last year.
One of the largest integrated textile, apparel and branded apparel companies, Arvind has also seen consolidated revenue for the quarter up by 22 per cent at Rs 1,004 crore, as against Rs 825 crore in the corresponding quarter of the previous year. This is the consolidated figure for Arvind, the flagship textile company of the group, and its three subsidiaries -- Arvind Products, Arvind Retail and Arvind Brands.
Consolidated Ebitda (earnings before interest, taxes, depreciation and amortisation) rose by 30 per cent to Rs 128 crore as against Rs 98 crore for the comparable quarter last year. "We are witnessing growth in all business segments. With increase in denim and shirting capacity in the fourth quarter, our revenue and profitability will get a further boost," said Jayesh Shah, director and chief financial officer.
On a standalone basis, on revenue of Rs 648 crore, the Ebitda for the flagship Arvind Ltd is Rs 88 crore and the profit after taxes is Rs 31 crore for the quarter. The growth in consolidated revenue for the quarter is fuelled by a 57 per cent revenue growth in the branded apparel and retail business segments. Arvind's denim revenue grew by 39 per cent and that of shirting/khaki by 22 per cent.
