Arvind’s Q2 net up 39 percent to Rs 90.05 crores

Arvind has reported 39 percent increase in its

consolidated net profit for Q2 ended September 30, 2013. Profits stood at Rs 90.05 crores on the back of good performance from its textiles vertical. The company had posted a net profit of Rs 64.78 crores in the same quarter last fiscal.

Net sales in the period under review was Rs 1,762.76 crores as against Rs 1,347.24 crores in the same quarter last fiscal. Its textiles business posted revenues of Rs 1,170.55 crores as compared to Rs 950.79 crores in the year-ago quarter. Brand and retail vertical saw revenue of Rs 501.47 crores in the quarter as against Rs 346.30 crores in the same period last year.

Commenting on the performance, Arvind Director and Chief Financial Officer, Jayesh Shah said, “Buoyed by all round volume growth as well as price gains across all business segments, the company has achieved very strong financial numbers. Our brand and retail business registered very strong growth of 45 percent in a challenging market scenario. Encouraged by such healthy growth in the first half of the year, the company has revised its internal growth revenue estimated to about 24 percent from earlier estimate of 20 percent for the current financial year.”