Arvind reports record revenue growth of 26 percent

Despite low consumer sentiment, slow economy and rise in raw

material costs affecting businesses, textile and apparel major Arvind, has reported a strong revenue growth of 26 percent to Rs 1,774 crores. Its net profit after tax grew by 36 percent to Rs 102 crores for the quarter ending December, 31, 2013, as against revenue of Rs 1,405 crores and net profit after tax of Rs 75 crores for the same quarter last year.

At the operating level, consolidated EBIDTA for the quarter stood at Rs 254 crores as against EBIDTA of Rs 191 crores for the same quarter last year, registering growth of 33 percent. Commenting on the results as well as on the company’s outlook, Jayesh Shah, Director and Chief Financial Officer, Arvind said, “We are happy to note that we continue to register the all-round volume growth as well as price gains across all business segments.”

The revenue of textiles segment has grown by 24 percent led by growth of 20 percent in denim, 21 percent in wovens fabrics and 35 percent in garments manufacturing. Arvind’s brands & retail business has registered strong growth of 30 percent. They expect the current growth momentum to continue in the near future.