Arvind Ltd, the leading textile and apparel player reported a consolidated net profit of Rs. 24.10 cr for the first quarter ended June, 2019. The company had posted a net profit of Rs. 62.29 cr April-June quarter a year ago, Arvind Ltd said in a BSE filing. Its total income during the quarter under review stood at Rs. 1,917.21 cr. It stood at Rs. 1,824.91 cr in the year-ago quarter.
Due to the demerger of branded apparel undertaking of the company to Arvind Fashions Ltd, the results of the current quarter are “not comparable,” Arvind Ltd said. The company’s total expenses were at Rs. 1,870.77 cr. “Garment revenues were up given 20 per cent higher garment volumes, as our facilities continue to gradually ramp-up. Advanced Materials revenues were up 31 per cent,” Arvind Ltd said in a statement.
Revenue from textiles segment, which includes fabrics, garments and fabric retail, was at Rs. 1,616.63 cr. Revenue from Advanced Materials stood at Rs. 167.87 cr. The segment includes human protection fabric and garments, industrial products, advance composites and automotive fabrics. On outlook, the company said it “expects revenue to grow by about 8 per cent and maintain EBITDA margin at around 10 per cent for the full year.” Shares of Arvind Ltd recently settled at Rs. 53.75 on the BSE, down 3.59 per cent from previous close.