Profit after tax up by 14% at Rs. 110 crores
Arvind Limited, leading integrated textile and branded apparel player, has posted 14% growth in the revenue at Rs. 2320 crores for the quarter ended 31st March 2016, as against Rs.2041 crores in the corresponding quarter of the previous year. Consolidated EBIDTA is also up by 14% at Rs.297 crores as against Rs.260 crores in the corresponding quarter of the previous year. Profit after tax grew by 14% to Rs. 110 crores as compared to Rs. 97 crores in the corresponding quarter for the last year.
For the financial year, the company reported 8% growth in revenue at Rs. 8450 crores while net profit after tax has come down by 7% to Rs. 371 crores compared to Rs. 395 crores in the previous financial year. PAT after exceptional items was Rs. 363 crores as compared to Rs. 341 crores in the previous year. The Board of Directors have recommended dividend of 24% for the year 2015-16.
Commenting on the results as well as outlook of the Company, Mr. Jayesh Shah, Director and Chief Financial Officer said: "Our textiles business continues to deliver a strong performance as we continue to pursue a calibrated growth strategy. The brands business continues to demonstrate strong growth with 30% CAGR for Q4. Our established power brands consolidated their market positions and the recent additions in speciality retail formats got off to a strong start. We are also extremely excited to lunch India's first True Omni Channel Experience – NNNow.com. This new initiative will bring a paradigm shift in the Indian fashion & lifestyle e-commerce space. NNNow.com is Arvind's attempt to move away from the discount driven e-commerce market to a brand led shopping journeys. NNNow.com redefines shopping for Indian consumers by linking online and offline retail shopping experience".