The third quarter revenue of Arvind Ltd, one of the largest integrated textile and branded apparel players, for 2017 was recorded at Rs 2,706 crore, up 16 per cent over the corresponding quarter of the previous year due to strong performance in both textile and brands business. Profit after tax before exceptional items grew by 14 per cent to Rs 90 crore.
For the reported period, company's 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. Brands business also 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.
"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," Jayesh Shah, director & chief financial officer said.