Leading textile and branded apparel player Arvind Ltd on Thursday reported a 1 per cent increase in net profit and 7 per cent in revenues in 2012-13 ended March 31, compared to the corresponding period last fiscal.
While the sales revenue was Rs 5,293 crore (Rs 4,925 crore), PAT stood at Rs 248 crore (Rs 245 crore), the company said in a statement here.
In the fourth quarter of 2012-13, Arvind’s revenues were up by 10 per cent at Rs 1,406 crore (Rs 1,278 crore) and net profit by 13 per cent at Rs 76 crore (Rs 67 crore).
The board has recommended a dividend of 16.5 per cent for 2012-13 as against 10 per cent for the previous year.
Commenting on the results, Jayesh Shah, Director and Chief Financial Officer, said the results were achieved in the backdrop of a challenging macroeconomic environment with high inflation and weak consumer sentiment as well as the unforeseen event of a labour strike in the first quarter. “Currently, all the business verticals are performing well and based on the growth momentum they have attained, we hope to grow by 20 per cent during 2013-14.”