Brand & Retail, the branded apparel segment at textile and denim major, Arvind Ltd witnessed sales surging 21.1 per cent year on year in the third fiscal quarter ended December 31, 2014.
Net sales for the third quarter of fiscal 2015 in the Brand & Retail segment drove up to Rs 658.68 crore from Rs 543.87 crore in the same quarter of fiscal 2014, up a massive 21.1 per cent
In the reporting quarter, Arvind reported consolidated total income from operations at Rs 2073.71 crore against Rs 1771.64 crore in third quarter of previous fiscal, also up 17 per cent.
Net sales in the textile segment rose slower at 9.71 per cent to Rs 1,290.68 crore in the third quarter of current fiscal compared to Rs 1,176.37 crore in the corresponding quarter of last fiscal year.
Profit before interest and tax in the textile segment grew to Rs 213.58 crore, up 15.46 per cent year on year, while in the Brand & Retail division it reached Rs 27.20 crore, down 1.37 per cent from a year ago quarter.
Total expenses in the quarter under review expanded 16.50 per cent to Rs 1841.31 crore as against Rs 1580.55 crore in the prior year fiscal quarter.
Profit from operations before other income, finance costs and exceptional items in the reporting quarter moved higher to Rs 232.40 crore, up a steep 21.61 per cent from a year earlier period.
In the third quarter of fiscal 2015, profit from ordinary activities before finance costs and exceptional items also galloped by 19.21 per cent year on year to Rs 242.42 crore.
Arvind posted a profit before tax of Rs 143.18 crore in the quarter under review from Rs 122.41 crore in the same quarter of last fiscal, also up 17 per cent.
However net profit climbed slower by just 6.78 per cent to reach Rs 109.10 crore or Rs 4.22 earnings per share as against Rs 102.17 crore or Rs 3.96 per share in the fourth quarter of fiscal 2014.
Speaking on the results, CFO Jayesh Shah said, “While we see strong global demand for textiles, Indian retail demand is not as expected. “
“We expect revenue growth of 14-15 per cent for this financial year and hope to maintain operating margin at current level,” he added.
