India’s biggest denim fabric maker Arvind’s Q1 net soars 27%

India’s biggest denim fabric producer and Sanjay Lalbhai led Arvind Ltd’s consolidated net profit soared 27 per cent year on year at Rs 74 crore for the first fiscal quarter ended June 30, 2016.

In a BSE filing, the company said its consolidated revenue also rose 18 per cent to Rs 2,104 crore in the reporting quarter compared to Rs 1,787 crore in the comparable quarter of prior fiscal.

Arvind added that its textiles business continues to deliver a strong performance as it continues to pursue a calibrated growth strategy in reporting 14 per cent year over year revenue growth.

“However, the brands business continues to demonstrate strong growth in the quarter under review with 26 per cent sales growth over the previous fiscal’s first quarter,” the company informed.

"Our established power brands consolidated their market positions, while we are also excited about India's first true omni-channel experience, Nnnow.com which we launched during the quarter,” CFO Jayesh Shah too said.