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Textile and apparel maker Arvind Ltd has said its consolidated net profit surged over two-fold to Rs 61.05 crore for the first quarter ended June 30, 2011.
The company had a net profit of Rs 22.10 crore in the same period previous financial year, it said in a filing to the Bombay Stock Exchange today.
Net sales rose to Rs 1,180.17 crore from Rs 838.97 crore.
Commenting on the results, the company Director and Chief Financial Officer, Mr Jayesh Shah, said: “The growth across all the product segments is led by the growth in domestic market on the back of strong B2C business model which Arvind has created.
“With fall in cotton prices, the demand for fabrics, which has been sluggish for the past few months, will increase. We believe that Arvind is well poised to achieve 15 to 20 per cent revenue growth during the current year and also to maintain the operating margins,” Mr Shah added.
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