Arvind Posts Higher Profit Amid Margin Pressure
Indian textile manufacturer Arvind reported a 43 percent rise in second-quarter profit as festive demand offset rising material costs. The company cautioned that ongoing input cost pressures could weigh on future margins.
Insights:
Arvind reported a 43% rise in second-quarter net profit to 1.48 billion rupees ($15.55 million) on Wednesday afternoon, driven by resilient domestic demand during the festive season.
The India-based textile manufacturer saw revenue from operations rise 23% to 29.19 billion rupees for the quarter ended September 30, up from 1.03 billion rupees a year earlier. The results outpaced raw material pressures and soft demand in Western markets where the company supplies brands such as Gap and H&M.
