Arvind Ltd Q2 net profit at Rs64 crore
New Delhi: Textile and apparel player Arvind Ltd on Wednesday reported a consolidated net profit of Rs64.50 crore for the quarter ended September. The company had posted a net profit of Rs76.65 crore during the same period previous fiscal, it said in a stock exchange filing.
The company said effective 1 April, 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 Rs2,654.03 crore.
It was Rs2,353.22 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 chief financial officer 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% down at Rs432.45 on BSE.
- Light pollution rises on a global scale
- Zimbabwe judge says military action against Robert Mugabe was legal
- PM Modi to inaugurate Hyderabad Metro Rail on 28 Nov, ticket prices to be notified soon
- Mars liquid water hopes drying up as ‘flowing streams’ may be sand
- Gold prices stay weak on global cues, muted demand