Arvind’s profit may fall 20 percent

Textile major Arvind’s profit on consolidated basis is expected to fall 20 percent year-on-year as its brand and retail business is likely to be hit by demonetisation. Revenue may grow eight per cent year-on-year and brand and retail business growth may be around nine to 10 percent. The company has guided 20 per cent growth in brand and retail for financial year 2017.