CEO Round Table one of the most significant events of the 2nd edition of India Pharma Week - CJP uploads online petition in Ram Janmabhoomi-Babri Masjid case for Peace in Ayodhya - First Trio of Trade Fairs comprising pacprocess India, indiapack and food pex India is Ready to Kick Off - Teesta Setalvad urges people to join CJP to fight against injustices - Grandest Celebration Of UBM India’s 11th Edition Of CPhI & P-MEC India Gets Underway Today At MMRDA GROUND, BKC - OSH India 2017: Enhancing safety and well-being of the Indian workforce - The ‘India Pharma Week’ returns with a week full of avant-garde events alongside CPhI and P-MEC India - The President of India, Shri Ram Nath Kovind confers National Award for Child Welfare 2017 on The Akshaya Patra Foundation - Sri Sathya Sai International Veda Conference Event organized to mark the 92nd birthday celebrations of Bhagawan Sri Sathya Sai Baba - HDFC Standard Life Insurance Company Limited listed today at NSE in Mumbai with a premium - IIFL’s 5Paisa.com becomes India’s 1st listed discount brokerage company; offers stock trading at zero brokerage flat fee of Rs 10 per trade - IndiaFirst Life launches Little Champ Plan - ANMI identifies new frontiers of growth for financial services amid a changing regulatory environment - Shri Dinabandhu Mohapatra, MD & CEO,Bank of India, announces the bank's Q2FY18 results - SRCC Children’s hospital launches Raksha Camp – Save the Little Hearts in association with Chief Minister’s Relief Fund and Tata Trusts - The Titan Raga-Masaba Collection Comprises Striking watch designs and motifs that celebrate the Modern Indian woman! - UBM India brings in the 12th edition of Food Ingredients India & Health Ingredients in Mumbai - UBM India unveils the 9th edition of India Nuclear Energy (INE) - Arvind Fashions and Anup Engineering set to become independent of parent Arvind Limited - Sanjay Lalbhai, CMD, Arvind Ltd announces Q2FY18 consolidated results for the 2nd quarter ended Sep. 30, 2017.
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Sanjay Lalbhai, CMD, Arvind Ltd announces Q2FY18 consolidated results for the 2nd quarter ended Sep. 30, 2017.

Mumbai : Sanjay Lalbhai, CMD of Arvind Limited addressing the press conference in Mumbai on Wednesday / 08.11.2017 Photo By Sachin Murdeshwar GNS

Mumbai : Sanjay Lalbhai, CMD of Arvind Limited addressing the press conference in Mumbai on Wednesday / 08.11.2017 Photo By Sachin Murdeshwar GNS

Mumbai, November 8, 2017 (GNS) : Arvind Limited, one of the largest integrated textile and branded apparel players, today announced its results for the second quarter ended September 30, 2017.

The consolidated revenue for the quarter stood at Rs. 2,628 crores, registering a growth of 13% over the corresponding quarter of the previous year despite a challenging market due to GST implementation. Consolidated EBIDTA declined 9% to Rs. 212 crores from Rs. 232 crores in the corresponding quarter for the last year, primarily due to revenue challenges in domestic market and higher cotton prices on year on year basis. Profit after tax before exceptional items was down 15% to Rs. 66 crores as compared to Rs. 77 crores in the corresponding quarter of the previous year. Profit after Tax after Exceptional items, which consisted of retrenchment compensation, was Rs. 62 crores (down 14%) as compared to Rs. 71 crore in corresponding quarter in previous financial year.

Commenting on the results as well as outlook of the Company, Mr. Jayesh Shah, Director & Chief Financial Officer said: “2nd quarter turned out to be another challenging quarter for the industry with GST implementation impacting our domestic textile business. Even the consumer facing brands business was impacted in month of July as both the wholesale and retail channels were under pressure. However, brands business saw strong performance in August and September leading to good growth overall. Going forward, we expect transitionary impact of GST to settle down and we expect revenue growth to return to normalcy.”ENDS