Arvind Limited announced consolidated revenue for the third quarter ended December 2017, at Rs 2706 crore, registering a growth of 16% over the corresponding quarter of the previous year due to strong performance in both textile and brands business. Consolidated EBIDTA grew by 5% to Rs 248 crore as compared to EBITDA of Rs 236 crore in the corresponding quarter of the previous year, led by improved profitability in the brand business and despite challenges on account of rupee appreciation in the textile business. Profit after tax before exceptional items grew by 14% to Rs 90 crore as compared to Rs 78 crore in the corresponding quarter for the last year. Profit after Tax after Exceptional items was Rs 79 crore as compared to Rs 76 crore in corresponding quarter in previous financial year.
Brands business registered a healthy quarter with profitability ratios improving sharply. Revenue for the quarter came at Rs 961 crore while EBITDA improved almost 123% to 67 crore.
Commenting on the results as well as outlook of the company, Jayesh Shah, Director & Chief Financial Officer said, "Third quarter was a good quarter for our business with both revenue growth and profitability metrics registering an improvement despite reduction in duty drawback rates and other export incentives. While the festive season was relatively slow, demand picked up in November and December and we expect this growth trend to continue in the coming quarters. Finally on the business restructuring, the process of demerger is proceeding as per expectations and we expect the three companies to list separately over the next 6-8 months."