Arvind Pvt Ltd. net profits tanks by 49% on account of exceptional expenses

NEW DELHI: Textile firm Arvind Ltd today reported a 48.71 per cent decline in consolidated net profit at Rs 48.23 crore for the March quarter due to exceptional expense of Rs 48.44 crore.

The company had posted a net profit of Rs 94.05 crore in the same period a year ago, it said in a BSE filing.

Arvind's net sales rose 8.09 per cent to Rs 2,032.35 crore in the quarter under review as against Rs 1,880.23 crore a year earlier.

For the full financial year ended March 31, 2015, Arvind's net profit stood at Rs 341.1 crore, down from Rs 353.89 crore in the previous financial year.

Arvind's net sales for the entire year came in at Rs 7,814.64 crore as against Rs 6,912.7 crore in the previous fiscal.

The Board of Directors has recommended a dividend of Rs 2.55 for the year ended March 31, 2015.

Arvind was trading at Rs 254.50 in the afternoon trade, down 0.49 per cent from the previous close, on BSE.