Aarvee net profit declines 64.64 percent in Q3

Aarvee Denims & Exports has reported a fall in its net profit by 64.64 percent to Rs 0.93 crore in the quarter ended December

2013 as against Rs 2.63 crore during the same quarter ended December 2012. Sales however rose 7.09 percent to Rs 149.15 crores in the quarter compared to Rs 139.27 crores during the same quarter last year.

In the second quarter ended September 30, 2013, the company has net sales/income from operations at Rs 193.09 crores as against Rs 206.29 crores for the quarter ended September 30, 2012. The net loss was Rs 7.57 crore for the quarter ended September 30, 2013 as against Rs 17.28 crores for the quarter ended September 30, 2012.

Aarvee Denims and Exports is a leading player in the textile space. 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.