Arvind Expects Strong Growth In Textile Business This Financial Year
Arvind Ltd. expects its textile business to grow 10 percent in the ongoing financial year, helped by rising capacity.
“We are ramping up our garment capacity and this is going to come over the next few quarters,” Executive Director Kulin Lalbhai told BloombergQuint. “You will see the textile business post strong growth.”
The company’s textile business growth remained muted at 2.3 percent. Its overall earnings in the June quarter, too, missed analyst estimates.
Yet Lalbhai is happy, saying the company has met its internal targets.
Key Earnings Highlights From First Quarter:
- Revenue rose 10.3 percent to Rs 2,861 crore.
- Net profit increased 11.4 percent to Rs 66.5 crore.
- Ebitda rose 17.75 percent to Rs 246.3 crore.
- Margin stood at 8.6 percent against 8.1 percent.