Arvind falls 11% on disappointing September quarter results

The stock dipped 11% to Rs 406 on the BSE after the company reported 9% declined in Ebitda at Rs 212 crore in September quarter

Arvind dipped 11% to Rs 406 on the BSE in intra-day trade after the company reported 9% declined in Ebitda (earnings before interest, taxes, depreciation and amortization) at Rs 212 crore in September quarter (Q2FY18). The company, integrated textile and branded apparel player had Ebitda of Rs 232 crore in the corresponding quarter for the last year.

“The fall in Ebitda during the quarter was primarily due to revenue challenges in domestic market and higher cotton prices on year on year basis,” Arvind said in a statement.

The company’s net profit declined by 14% to Rs 62 crore