Arvind Q3 revenue up by 16% at Rs. 2,706 crore

Arvind Q3 revenue up by 16% at Rs. 2,706 crore

NEW DELHI: Ahmedabad-based textile major Arvind Limited said that its consolidated revenue for Q3 rose 16% at Rs. 2,706 crore over the corresponding quarter of the previous year.nn”The consolidated revenue for the quarter stood at Rs. 2,706 crore, registering a growth of 16% over the corresponding quarter of the previous year due to strong performance in both textile and brands business,” the company said.nn”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,” it said.nn”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,” the company said.nn”Engineering business, Anup Engineering also registered strong growth and delivered revenue of Rs. 68 crore during the quarter. For the first 9 months, the revenue has grown by 21% to Rs. 139 crore and has delivered an EBITDA of Rs. 28 crore,” it said.nnCommenting on the results as well as outlook of the Company, Jayesh Shah, Director & Chief Financial Officer said: ?3rd 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.?

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