Diversified conglomerate, Arvind Ltd, has posted a consolidated net profit of Rs 86 crore for the second quarter ended September 30, 2018, about 30 per cent higher than Rs 66 crore reported in the same quarter last year.

Revenues from operations increased by 12 per cent to Rs 3,053 crore from Rs 2,735 crore in the corresponding quarter a year ago. The financial details were revealed without giving effect to the company's demerger of its branded apparel business and engineering business.

Net profit after exceptional items from the discontinuing operations stood at Rs 73 crore during the quarter under reviewagainst Rs 62 crore in the same period last year, showing a growth of 18 per cent.

"Led by 15 per cent growth in garments revenue and 21 per cent growth in advanced materials division’s revenue, the overall revenue growth was 12 per cent, while a strong growth in EBIDTA at 24 per cent was partially driven by improvements in the margins of advanced materials division," a company statement said.

"Company expects its branded apparel to grow at 20 per cent for the current financial year with improved profitability," it added.

The National Company Law Tribunal has approved the demerger of branded apparel and engineering businesses into separate companies. The effective date of demerger and record date for allotment of shares is likely to be this month-end.

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