Arvind Ltd: Arvind Ltd posts Q2 net profit at Rs 64 cr
New Delhi: Textile and apparel playerArvind Ltd today reported a
consolidated net profit of Rs 64.50 crore for the quarter ended September 30.The
company had posted a net profit of Rs 76.65 crore during the same period
previous fiscal, Arvind Ltd said in a stock exchange filing.
The company said effective April 1, 2017, it has consolidated Tommy Hilfiger Arvind Fashion and Calvin Klein Arvind Fashion as
subsidiaries and therefore the second quarter results are not comparable.Total
income during the quarter under review stood at Rs 2,654.03 crore. It was Rs
2,353.22 crore during the same period of 2016-17.
"Second quarter turned out to be another challenging quarter for the
industry with GST implementation impacting our domestic textile business,"
Arvind Ltd Director and CFO Jaayesh Shah said. On the outlook, he said the
company expects the transitionary impact of GST to settle down and revenue
growth to return to normalcy.The stock was
trading 4.95 per cent down at Rs 432.45 on BSE.
Source: Et.retail.com,India
Thursday, 09 November 2017