INDIA: Arvind lifts outlook on Q2 profit rise
- Q2 profit after tax grew 44% to INR
- Revenue increased 30% to
- Expects full-year revenue to rise 24%
India-based Arvind Ltd has lifted its full-year earnings guidance, boosted by a strong performance at its textile division.
The textile conglomerate today (24 October) said net profit after tax reached INR940m (US$15.3m) for the three months to 30 September, compared to INR650m in the same period of the prior year.
Revenue grew 30% to INR17.18bn from INR13.25bn last year. Sales at the group's textile segment increased 23% to INR11.7bn, while its brand and retail division reported a rise 44.8% to INR5.01bn.
Arvind now expects full-year revenue growth to reach 24%, up from its earlier guidance of 20%.
"Buoyed by all round volume growth as well as price gains across all business segments, the company has achieved very strong financial numbers," said director and CFO Jayesh Shah.
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