INDIA: Higher sales and prices lift Arvind Q2
Higher volumes and prices combined with lower energy costs have helped Arvind Limited, one of India's largest textile and apparel makers, to a second-quarter profit of INR151.9m (US3.3m).
This contrasts with a profit of INR16.4m in the same period last year, but because the company spun off its brands and retail units into two of its subsidiary businesses in April, the results are not comparable, it said.
Excluding the figures from the demerged brands and retail businesses, revenue for the three months to 30 September climbed 25% to INR6bn from INR4.79bn last time.
Lower cotton prices and higher export and domestic demand for its denim and shirting fabrics also lifted results, the firm said.
Looking ahead to the third quarter, Arvind expects revenue to grow 15% year-on-year, and margins to rise by 3-4%.
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