Ahmedabad (Gujarat): Textiles and clothing major Arvind Limited on Friday reported sluggish growth in revenue during the fourth quarter of 2018-19 at Rs 1,859 crore, one per cent up from Rs 1,843 crore in the corresponding period of the previous fiscal year.
“Denim volumes were lower by 30 lakh metres in the year-on period although they grew by the same number compared to sequential quarter,” it said in a statement. “This was offset by 52 per cent increase in revenue of advanced materials business.” The earnings before interest, tax, depreciation and amortisation (EBITDA) grew four per cent to Rs 184 crore from Rs 176 crore in the same period, said the company.
Profit after tax before exceptional items increased 14 per cent to Rs 68 crore from Rs 60 crore in Q4 of FY18 while PAT after exceptional items was Rs 63 crore, up eight per cent from Rs 59 crore. Beginning 2011, Arvind has brought in some of the biggest global fashion brands like Calvin Klein, Tommy Hilfiger, Gap, Ed Hardy, Hanes, Nautica and Elle to India.
In October 2018, Arvind obtained nod from the National Company Law Tribunal (NCLT) for demerger of its branded apparel and engineering businesses into separate entities. Sanjay Lalbhai-led Arvind Ltd is a billion dollar (about Rs 7,000 crore) diversified Indian conglomerate with business interests in fabrics and apparel, brands and retail, real estate, engineering, internet, telecom, environmental solutions and advanced materials.
Article source: https://www.freepressjournal.in/india/textiles-major-arvind-reports-muted-revenue-growth-in-q4-fy19/1528323