• Q1 profit after tax up 14% to INR900m (US$14.9m)
  • Revenues grow 19% to INR17.73bn
  • Plans to demerge real estate business

A solid revenue gain at its brands and retail business helped Indian textile conglomerate Arvind Ltd to book a double-digit increase in first-quarter profit.

Profit after tax reached INR900m (US$14.9m) in the three months to June, compared to INR790m in the same period last year.

Revenues grew 19% to INR17.73bn from INR14.91bn a year ago, led by a 26% increase at its brands and retail business, and 13% growth at its textile division.

The company also announced plans to demerge its real estate business, transferring shares of the division to its wholly owned subsidiary Arvind Infrastructure Ltd (AIL).

Commenting on the move, director and CFO Jayesh Shah, said: "The demerger will allow Arvind to deploy its resources fully in its core activities and allow AIL to raise further capital and debt as required for its growth."