 "Arvind Textiles posts net profit of Rs 32 crore")
Textile firm Arvind posted a consolidated net profit of Rs 32.47 crore for the quarter ended 30 June, 2012.
The company had posted a net profit of Rs 61.05 crore for the same period of previous fiscal, Arvind said in a filing to the BSE.
It added that the financial performance for the quarter is not comparable with that of previous quarter last year as the company’s operations were affected by strike in June 2012. “We had an abnormal situation due to strike in two of our plants hence it will not be appropriate to compare these results with that of previous year,” Arvind Ltd Chief Financial Officer Jayesh Shah said.
[caption id=“attachment_392629” align=“alignleft” width=“380”]  Reuters[/caption]
Net sales of the company stood at Rs 1,176.99 crore for the quarter ended 30 June. It was Rs 1,190.66 crore during the same quarter of previous fiscal.
Shah added that the textile business is witnessing strong growth and the company is confident that in coming quarter there will be growth in volume as well as margins.
Shares of Arvind Ltd closed at Rs 69.90 on the BSE, down 2.44 percent from its previous close.
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