Arvind Limited Reports Unaudited Standalone and Consolidated Earnings Results for the First Quarter Ended of June 30, 2017
August 04, 2017 at 06:49 am EDT
Share
Arvind Limited reported unaudited standalone and consolidated earnings results for the first quarter ended of June 30, 2017. For the quarter, on a standalone basis, the company reported revenue from operations of INR 16,133.6 million compared to INR 14,658.5 million a year ago. Profit before exceptional items and tax was INR 1,000.1 million compared to INR 1,276.4 million a year ago. Profit before tax was INR 931.0 million compared to INR 1,274.8 million a year ago. Net profit for the period was INR 733.4 million compared to INR 874.5 million a year ago. Diluted earnings per share (not annualized) were INR 2.83 compared to INR 3.39 a year ago.
For the quarter, on a consolidated basis, the company reported revenue from operations of INR 24,750.3 million compared to INR 21,041.3 million a year ago. Profit before exception items and tax was INR 771.9 million compared to INR 1,051.5 million a year ago. Profit before tax was INR 702.8 million compared to INR 1,049.9 million a year ago. Net profit for the period was INR 567.5 million compared to INR 732.8 million a year ago. Net profit for the period attributable to equity holders of the parent was INR 597.5 million compared to INR 738.9 million a year ago. Diluted earnings per share (not annualized) were INR 2.29 compared to INR 2.84 a year ago. EBITDA declined 15% to INR 2,070 million from INR 2,440 million in the corresponding quarter of the previous year, primarily due to GST transition.
Arvind Limited is an India-based vertically integrated textile company. The Company operates through three segments: Textiles, Advanced Materials and Others. The Textiles segment includes fabrics, garments, and fabric retail. The Advanced Materials segment consists of human protection fabrics and garments, industrial products, advance composites, and automotive fabrics. The Others segment includes e-commerce, agriculture produce, EPABX and one to many radios, developing of residential units and others. It also manufactures a range of cotton shirting, denim, knits, and bottom weights (Khakis) fabrics and jeans and shirts garments. Its businesses include fabric and apparel, brands and retail, real estate, engineering, Internet, environmental solutions, advanced materials, telecom, and garmenting. Its subsidiaries include Arvind PD Composite Private Limited, Arvind OG Nonwovens Private Limited, Arvind Internet Limited, and Arvind Goodhill Suit Manufacturing Private Limited, among others.