INDIA: Arvind Q4 profit rises on revenue growth
- Q4 profit increased 13.4% to INR760m
- Revenue grew 10% to INR14.06bn
- Company expects to grow 20% in 2013-14
Indian textile conglomerate Arvind Ltd has booked a 13.4% increase in fourth-quarter profit on the back of higher revenue growth.
Profit after tax reached INR760m (US$13.9m) for the three months to 31 March, compared to INR670m in the same period last year. Revenue grew 10% to INR14.06bn against INR12.78bn last year.
Over the full year, profit after tax edged up 1.2% to INR2.48bn from INR2.45bn a year earlier. Revenue, meanwhile, rose 7% to INR52.93bn, up from INR49.25bn last time.
Commenting on the results, director and CFO Jayesh Shah said: "It is very heartening to note that despite the very challenging macroeconomic environment with high inflation and weak consumer sentiments, as well as the unforeseen event of labour strike in the first quarter, we not only recorded revenue growth but also improved profitability.
"Currently all the business verticals are performing well and, based on the growth momentum they have attained, we are hopeful to grow by 20% during the year 2013-14."
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