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Arvind Ltd Q4 net rises 18% to Rs 115 crore

Textile major Arvind Ltd today reported 18.17 per cent increase in consolidated net profit at Rs 115.47 crore for the quarter ended March 31.

The company posted a profit of Rs 97.71 crore in the same quarter of 2016-17.

Total income in the reported quarter stood at Rs 3,004.11 crore. It was at Rs 2,499.33 crore in the year-ago period, the company said in a BSE filing.

It said revenues from operations for the quarter and year ended March 31,2018 are not comparable with those of previous periods.

"Post implementation of GST with effect from July 1,2017, revenue from operations is disclosed net off GST. Revenue from operations in the earlier periods included excise duty which is now subsumed in GST," it added.

Company's Director and Chief Financial Officer Jayesh Shah said fourth quarter was good for business with strong growth in both revenue and margins on the back of sharp improvement in "our brands' business profitability".

Meanwhile, the Board of Directors recommended a dividend at the rate of Rs 2.40 per equity share of Rs 10 each for 2017-18.

Shares of Arvind Ltd were trading 5.65 per cent up at Rs 443.25 apiece on BSE.

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