Textile Segment Sales Flat At Arvind
Textile segment sales at India’s biggest denim fabric producer remained flat at Rs 1,290.68 crore during the three months to December 31, 2015 period.
In the comparable quarter of the previous fiscal, Ahmedabad based Arvind had reported textile segment sales also at Rs 1,290.68 crore.
“However, consolidated net sales during the third quarter of fiscal 2016 were up 3.94 per cent at Rs 2,150.97 crore as against Rs 2,069.29 crore in the prior fiscal’s third quarter,” the company said in a BSE filing.
Brand and retail revenue in the reporting quarter amounted to Rs 736.97 crore, a rise of 11.88 per cent vis-à-vis Rs 658.68 crore in the third quarter of fiscal 2015.
But the textiles major reported a 3.33 per cent drop in consolidated net profit at Rs 104.6 crore in the quarter under review compared to Rs 108.21 crore in the same period last fiscal.
Arvind Ltd CFO Jayesh Shah said, “The performance for the quarter has been satisfactory considering very challenging domestic markets.”
“Following improvement in consumer sentiments, we expect performance in the fourth quarter to be a stronger than the corresponding quarter,” he added.