Leading integrated textile and branded apparel player Arvind Ltd on Thursday reported a loss of 5 per cent in profit after tax (PAT) and an increase of 4 per cent in consolidated revenue during the third quarter of 2015-16, ended December 31, 2015, compared to the corresponding period last fiscal.
While the company’s revenues were Rs 2,157 crore (Rs 2,074 crore), net profit stood at Rs 105 crore (Rs 112 crore), a spokesman said here, adding the loss in profit was on account of higher tax provision.
Commenting on the results and outlook of the company, Jayesh Shah, Director and Chief Financial Officer, said performance for the quarter has been satisfactory considering very challenging domestic markets.
"Following improvements in consumer sentiments, we expect performance in the fourth quarter to be stronger than in the corresponding quarter."