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Arvind Ltd has reported 14 per cent fall in September quarter net profit at ₹62 crore (₹71 crore) largely due to lower demand post implementation of GST.
Revenue in the quarter under review was up 13 per cent at ₹2,628 crore.
EBITDA declined nine per cent to ₹212 crore from ₹232 crore due to challenges in domestic market and higher cotton prices.
Employees benefit increased to ₹329 crore (₹284 crore) as the company provided for retrenchment compensation.
Jayesh Shah, Chief Financial Officer, said the September quarter turned out to be another challenging quarter with GST implementation impacting domestic textile business.
The consumer facing brands business was also impacted in July as both wholesalers and retailers were under pressure, he said.
On a standalone basis, net profit was down at ₹42 crore (₹67 crore), while revenue was flat at ₹1,493 crore (₹1,486 crore).
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