Diversified denim player, Arvind Ltd, posted a standalone net profit of Rs 64 crore for the quarter ended June 2018, down 20 per cent from Rs 80 crore reported in the same quarter a year ago. The company's total income stood at Rs 1,686 crore for the quarter, as against Rs 1,643 crore in the corresponding quarter last year.
On a consolidated basis, the company's net profit for the June quarter stood at Rs 64 crore, higher by 12 per cent over the Rs 57 crore reported in the corresponding quarter a year ago. Consolidated income for the quarter stood at Rs 2,875 crore, as against Rs 2,608 crore in the same period last year.
The company said, "backed by the strong performance of the branded apparel business, the company delivered an impressive EBITDA growth of 18 per cent."
Giving an outlook on the business, the company said, "The branded apparel segment is likely to continue its industry-leading growth momentum of over 20 per cent and steady margin expansion is expected. Backed by garment expansion and new products, the textiles segment is likely to grow by 10 per cent, with improving margins."
Arvind is looking to demerge its branded apparel and engineering businesses into separate companies. "This process is progressing as planned, and final approvals are expected in early Q2," it said. Arvind shares edged lower by about 1 per cent to close at Rs 416.20 on the National Stock Exchange (NSE).
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