INDIA: Arvind Q3 earnings climb
India-based textile conglomerate Arvind Ltd has booked an increase in third-quarter earnings and sales and offered an optimistic outlook for its next fiscal.
Earnings in the three months to the end of December reached INR938m (US$14.9m), a 36% increase on the prior year's net profit of INR658.5m.
Revenues were up 26% to INR12.08bn from INR9.7bn in the comparable period last year.
"We are happy to note that we continue to register the all round volume growth as well as price gains across all our business segments," said CFO Jayesh Shah. "We expect that the current growth momentum shall continue for the near future."
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