Arvind Q3 profit up 9% as revenue leaps
- Q3 net profit up 9% to INR1.12bn
- Revenue up 17% to INR20.74bn
- CFO says retail demand “not as expected”
Textile and apparel business Arvind posted a 9% rise in net profit in the third quarter, with revenues rising 17% on the back of a surge in brands and retail sales.
Consolidated EBITDA was up 16% to INR2.88bn (US$46.3m) in the three months ended 31 December, the Indian company said.
Arvind CFO Jayesh Shah said a 22% leap in retail and brands revenue had spearheaded sales growth, while textiles revenues had risen by 9%.
He added: “While we see strong global demand for textiles, Indian retail demand is not as expected. We expect revenue growth of 14-15% for this financial year and hope to maintain operating margin at current level.”
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