Arvind has reported results for first quarter ended June 30, 2015.
The company has reported a fall of 30.44% in its net profit at Rs 78.83 crore for the quarter ended June 30, 2015 as compared to Rs 113.33 crore for the same quarter in the previous year. However, the company’s total income has increased by 1.98% to Rs 1340.22 crore for the quarter under review, from Rs 1314.17 crore for the corresponding quarter of the previous year.
On the consolidated basis, the company has reported 35.87% fall in its net profit after tax, minority interest and share of profit/(loss) of associates at Rs 58.04 crore for the quarter ended June 30, 2015 as compared to Rs 90.51 crore for the same quarter in the previous year. However, total income of the company has increased by 5.80% at Rs 1901.73 crore for quarter under review as compared to Rs 1797.45 crore for the quarter ended June 30, 2014.
The Scheme of Arrangement (the Scheme) between Arvind (the Company) and its wholly owned subsidiary Arvind Infrastructure (AIL) for demerger and transfer of Real Estate Undertaking (demerged undertaking) to AIL sanctioned by the Hon'ble High Court of Gujarat has become effective from April 01, 2015. Consequent to the Scheme, the Company has demerged the Real Estate Undertaking.
