Arvind Q3 revenue rises 16%

Arvind Ltd’s consolidated revenue for Q3 grew 16 per cent at Rs 2,706 crore over the corresponding quarter of the previous year. Consolidated EBIDTA grew by 5 per cent 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 per cent 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, the company said declaring its Q3 results.

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 per cent to 67 crore.

Engineering business, Anup Engineering also registered strong growth and delivered revenue of Rs 68 crore during the quarter. For the first nine months, the revenue has grown by 21 per cent to Rs 139 crore and has delivered an EBITDA of Rs 28 crore.

Jayesh Shah, Director and CFO, said: “Third 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.”