Denim maker Arvind Ltd posted a net profit of Rs 99 crore on standalone basis, about 6 per cent up from the Rs 94 crore reported in the same quarter of the previous year. The company's total standalone income stood at Rs 1,353 crore for the quarter against Rs 1,222 crore in the corresponding quarter last year.
On a consolidated basis, the company's net profit grew by 9 per cent to Rs 112 crore as compared to Rs 103 crore in the corresponding quarter last year.
Total consolidated revenues grew by 17 per cent at Rs 2,074 crore for the quarter ended December 31, 2014, as against Rs 1772 crore in the corresponding quarter last year. Consolidated EBIDTA was up by 16 per cent at Rs 288 crore as against Rs 249 crore in the corresponding quarter of the previous year, the company statement said.
Commenting on the results of the company, Jayesh Shah, Director and Chief Financial Officer said, "The revenue growth of 17 per cent is led by 22 per cent growth in the brands & retail business with the textile business growing at 9 per cent. We expect revenue growth of 14-15 per cent for this financial year and hope to maintain operating margins at the current level." The company expects strong global demand for textiles, leading to similar revenue growth.
Arvind shares closed negative at Rs 287.75 on Thursday, down by 1.47 per cent from previous close on the Bombay Stock Exchange (BSE).