INDIA: Arvind Q3 profit up on improving margins, sales
Indian textile conglomerate Arvind saw third quarter net profit rise on the back of increasing margins and sales.
The company said net profit rose 46% to reach INR750m (US$14m) over the quarter ended 31 December, from INR520m in the same period of the prior year.
Revenue increased 16% to INR1.4bn, against INR1.2bn in 2011.
It said that over the quarter, the textile business grew by 15%, driven by 33% volume growth in shirting and khaki fabric. The brands and retail business grew 19%.
We are pleased that revenue, EBITA as well as PAT are at an all time high," said director and CFO Jayesh Shah.
"The margin for both textiles and brands and retail are on the rise. We continue to be moderately bullish as far as the overall business scenario is concerned as the demand from domestic and international markets for textiles continues to be strong.
- Li & Fung: China consumption to bring major change
- INTERVIEW: Crystal CEO rises to the challenges
- Innovation and e-commerce key to Nike's growth
- Pacific Crystal Textiles gears up for production
- Opinion divided on China cotton import cuts
- Addressing anaemia key to Cambodia productivity
- Chinese firm to invest in Ethiopian textile plant
- Textile value chain making Africa more competitive
- Activists slam dismissals at Sri Lanka shoe firm
- Columbia Sportswear hires global manufacturing VP