Arvind Q3 net profit slips 3.33% at Rs 104 crore, shares down over 4%

Textiles major Arvind Ltd on Thursday reported a 3.33% decline in consolidated net profit at Rs 104.6 crore for the third quarter ended December 31. The company had posted a consolidated net profit of Rs 108.21 crore in the same period last fiscal.

At 1350 hours, the shares of the company were trading down 4.06%, or Rs 12.20 at Rs 288.10 per piece on BSE.

Consolidated net sales during the period under review stood at Rs 2,150.97 crore, up 3.94% as against Rs 2,069.29 crore in the same period last fiscal, Arvind Ltd said in a BSE filing.

Arvind Ltd's revenue from textiles segment during the quarter remained flat at Rs 1,290.68 crore compared with Rs 1,290.68 crore last fiscal. Brand and retail revenue in the third quarter was Rs 736.97 crore, up 11.88% as against Rs 658.68 crore.

Real estate revenue was at Rs 7.86 crore, a decline of 78.72% as against Rs 36.95 crore in the same period last fiscal. Arvind Ltd Director and Chief Financial Officer, Jayesh Shah said: "The performance for the quarter has been satisfactory considering very challenging domestic markets. Following improvement in consumer sentiments, we expect performance in fourth quarter to be a stronger than corresponding quarter."