Finance Update Uncategorized

Arvind Q3 net profit rises by 49.2% y-o-y

Textile and apparel player Arvind Ltd today reported 13.32% increase in consolidated net profit to Rs 64.31 crore

  • Revenue down by 0.6% y-o-y to Rs. 1,680.3 crore.
  • Net profit down by 49.2% y-o-y to Rs. 40.1 crore.
  • Ebitda down by 12% y-o-y to Rs. 149.6 crore.

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Its total income during the quarter under review stood at Rs 2,874.59 crore. It was Rs 2,608.28 crore in the year-ago quarter, Arvind Ltd said in a BSE filing.

Textile and apparel player Arvind Ltd today reported 13.32% increase in consolidated net profit to Rs.64.31 crore for the first quarter ended June 30, 2018-19. The company had posted a net profit of Rs.56.75 crore in the April-June quarter of 2017-18.

Its total income during the quarter under review stood at Rs.2,874.59 crore. It was Rs.2,608.28 crore in the year-ago quarter, Arvind Ltd said in a BSE filing.

It said revenue from operations, part of total income, for the first quarter of the current fiscal is not comparable with that of the year-ago period.

“Post implementation of Goods and Service Tax (GST) with effect from July 1, 2017, revenue from operations is disclosed net of GST. Revenue from operations for the quarter ended June 30, 2017 included excise duty which is now subsumed in the GST. Revenue from operations for the year ended March 31,2018 includes excise duty up to June 30, 2017,” it added.

The company stock was trading 0.79 per cent up at Rs.423.45 on BSE in the afternoon.

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