Aarvee Denims Q3 profit slides to Rs 36.64 m

Announcing its financial results for the period ended

December 31, 2011, Aarvee Denims & Exports said that it has posted net profit of Rs 36.64 million as compared to Rs 86.04 million for the quarter ended December 31, 2010, registering a decrease of 57.42 per cent. Total income was at Rs 1,590.50 million for the quarter whereas it was Rs 1,224.67 million for the same quarter last year, registering a growth of 29.87 per cent.

The company has reported an EPS of Rs 1.56 as compared to Rs 3.67 for the quarter ended December 31, 2010. The company’s net profit is of Rs 108.10 million for the nine months period ended December 31, 2011 as compared to Rs 274.09 million for the nine months period ended December 31, 2010, registering a decrease of 60.56 per cent. Its total income stood at Rs 4,727.55 million.

Aarvee Denims and Exports is a leading global player in the textile industry. Being backed by experienced promoters, the company is spreading its wings all over the globe at a fast pace. Arora Group, which is involved in the marketing of denim for over 35 years and VB Group which has been involved in textile trade for over 50 years are the forces behind this dynamic organization. More than five decades of experience, well qualified human resources and state of the art production units have made us India's second largest denim manufacturer.