Integrated textile major, Arvind Ltd, has posted a standalone net profit of Rs 68 crore for the quarter ended March 2018, against Rs 49 crore in the corresponding quarter a year ago, indicating a growth of 39 per cent on year-on-year basis.
The company's total standalone income stood at Rs 1,715 crore during the quarter compared with Rs 1,574 crore in the same period last year.
For the fiscal 2018, Arvind Ltd registered a net profit of Rs 250 crore on a total income of Rs 6,498 crore. The net profit for fiscal 2017 was Rs 18.56 crore.
The company said that the figures for the fourth quarter and fiscal 2016-17 are adjusted to give the effect of the scheme of amalgamation of Arvind Brands Retail Ltd, Arvind Garments Park Pvt Ltd and Dholka Textile Park Pvt Ltd to merge with the company.
On a consolidated basis, the company posted a net profit of Rs 115 crore on a total income of Rs 3,004 crore. For the fiscal, the company's consolidated net profit stood at Rs 316 crore on a total income of Rs 10,889 crore.
Consolidated EBIDTA grew 29 per cent to Rs 292 crore compared with Rs 226 crore in the corresponding quarter of the previous year, led by improved profitability in the brand business and strong growth in engineering business, Arvind Ltd informed in a statement here.
The board of directors has recommended a dividend of 24 per cent for the year 2017-18.
Jayesh Shah, Director & Chief Financial Officer, Arvind Ltd, said, "Fourth quarter was a good quarter for our business with strong growth in both revenue and margins on the back of a sharp improvement in our brands business profitability. During the quarter, we saw weak demand trends in apparel industry especially towards the beginning of the quarter. However, demand started picking up in March and we expect similar growth trend to continue in the coming months."
"Our textile business remains on a firm footing and delivered good results in line with our expectations. While there have been short-term challenges on account of reduction in duty drawback rates and other export incentives, the medium-term outlook of the business remains strong."
Arvind shares were trading higher by 5.3 per cent at Rs 442.7 on the National Stock Exchange.