Senior Correspondent, IndianRetailer.com & Retailer Magazine Nov 09, 2017 / 2 MIN READ
Textile and apparel player Arvind Ltd today consolidated net profit of Rs 64.50 crore for the quarter ended September 30. Company had posted a net profit of Rs 76.65 crore during the same period previous fiscal.
Arvind Ltd Director and CFO Jaayesh Shah said” Second quarter turned out to be another challenging quarter for the industry with GST implementation impacting our domestic textile business. Company has consolidated Tommy Hilfiger Arvind Fashion and Calvin Klein Arvind Fashion as subsidiaries and therefore the second quarter results are not comparable. The company expects the transitionary impact of GST to settle down and revenue growth to return to normalcy.”
Total income during the quarter under review stood at Rs 2,654.03 crore. It was Rs 2,353.22 crore during the same period of 2016-17.
Veteran designer Krishna Mehta will highlight fabrics from Bhagalpur, Benaras and Maheshwar at the ongoing season of Lakme Fashion Week (LFW) here.
At present, around 25-30 per cent of Welspun India's sales come from innovation-based products.
Garment exports grew by 16 per cent in September to $1.3 billion, helped by rising cost in China and non-compliance issues in Bangladesh, says a report in PTI.
Welspun would manufacture carpets, area rugs and carpet tiles in the new facility at Anjar, Gujarat. The facility will have an annual capacity of approximately 7 million square meters.
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