Arvind Mills sees 30 percent overall growth due to improving exports

Arvind Mills, an integrated Indian textile and branded apparel player, originally a flagship company of the Lalbhai Group is in market news currently having recorded overall 35.56 per cent growth in its consolidated net profit at Rs 102.17 crore in the October-December quarter due to increased demand in export markets like US and Europe, especially the denim makers, a sharp rise on seen in its export volume. This growth attributes to higher revenues in textile and retail segments.

Arvind’s net sales saw a grow of 27.98 per cent at Rs 1,792.20 crore in the December quarter as against Rs 1,400.36 crore in the same period last year. It has also been estimated that in the third quarter of the financial year, the revenues of the company have risen up to 24 percent led by the substantial growth of 20percent in the denim segment. It is also been seen that there has been a revenue growth of 21 per cent in woven fabrics and 35 per cent in garments manufacturing, thereby registering an overall growth of 30 percent.

Indian textile industry contributes nearly 14 per cent to industrial production; 4 per cent to the country’s gross domestic product (GDP); 17 per cent to its export earnings. It ranks amongst the leading textile manufacturing countries in the world and has continually made its significant contribution among the top apparel and textile exporters to the key US market.

With major players in the textile and garment industry recording major growth trends the Indian textiles is further blooming. Arvind adds further its contribution to this growing trend.