Arvind Limited Reports Unaudited Consolidated and Standalone Earnings Results for the Third Quarter and Nine Ended December 31, 2016
January 25, 2017 at 07:33 am
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Arvind Limited reported unaudited consolidated and standalone earnings results for the third quarter and nine ended December 31, 2016. For the quarter, on standalone basis, the company reported net sales/income from operations of INR 14,523.5 million against INR 13,315.3 million a year ago. Profit from operations before other income, finance costs and exceptional items was INR 1,397.3 million against INR 1,643.0 million a year ago. Profit from ordinary activities before tax was INR 989.7 million against INR 1,197.4 million a year ago. Net profit for the period was INR 716.5 million or INR 2.77 per diluted share against INR 886.1 million or INR 3.43 per diluted share for the same period a year ago.
For the nine months, on standalone basis, the company reported net sales/income from operations of INR 43,970.2 million against INR 39,609.7 million a year ago. Profit from operations before other income, finance costs and exceptional items was INR 4,488 million against INR 4,915 million a year ago. Profit from ordinary activities before tax was INR 3,288 million against INR 3,463.8 million a year ago. Net profit for the period was INR 2,263.7 million or INR 8.76 per diluted share against INR 2,440.3 million or INR 9.45 per diluted share for the same period a year ago.
For the quarter, on consolidated basis, the company reported net sales/income from operations of INR 23,231.9 million against INR 20,316.3 million a year ago. Profit from operations before other income, finance costs and exceptional items was INR 1,625.9 million against INR 1,952.0 million a year ago. Profit from ordinary activities before tax was INR 1,031.5 million against INR 1,304.3 million a year ago. Net profit after taxes, minority interest and share of profit of joint venture was INR 756.2 million or INR 2.92 per basic and diluted share against INR 904.6 million or INR 3.50 per basic and diluted share for the same period a year ago.
For the nine months, on consolidated basis, the company reported net sales/income from operations of INR 67,447.3 million against INR 57,695.1 million a year ago. Profit from operations before other income, finance costs and exceptional items was INR 4,983.7 million against INR 5,169.3 million a year ago. Profit from ordinary activities before tax was INR 3,089.7 million against INR 3,126.8 million a year ago. Net profit after taxes, minority interest and share of profit of joint venture was INR 2,206.8 million or INR 8.54 per basic and diluted share against INR 2,163.1 million or INR 8.37 per basic and diluted share for the same period a year ago.
Arvind Limited is an India-based vertically integrated textile company. The Company operates through three segments: Textiles, Advanced Materials and Others. The Textiles segment includes fabrics, garments, and fabric retail. The Advanced Materials segment consists of human protection fabrics and garments, industrial products, advance composites, and automotive fabrics. The Others segment includes e-commerce, agriculture produce, EPABX and one to many radios, developing of residential units and others. It also manufactures a range of cotton shirting, denim, knits, and bottom weights (Khakis) fabrics and jeans and shirts garments. Its businesses include fabric and apparel, brands and retail, real estate, engineering, Internet, environmental solutions, advanced materials, telecom, and garmenting. Its subsidiaries include Arvind PD Composite Private Limited, Arvind OG Nonwovens Private Limited, Arvind Internet Limited, and Arvind Goodhill Suit Manufacturing Private Limited, among others.