Arvind Mills announces Q1 results, ne tprofit at Rs.5.82 Crores

Arvind Mills Ltd has announced the following Unaudited results for the quarter ended June 30, 2007.

The Company has posted a net profit of Rs 58.20 million for the quarter ended June 30, 2007 as compared to Rs 46.30 million for the quarter ended June 30, 2006. Total Income has increased from Rs 4261.70 million for the quarter ended June 30, 2006 to Rs 5154.90 million for the quarter ended June 30, 2007.

Commenting on the results, Mr. Jayesh Shah, Director and Chief Financial Officer said: "The performance of the Company has been continuous improvements but are affected by macro-economic factors like exchange rate and rising interest costs. The Company will continue to focus on its core strengths and try to negate the macro factors with better operational performance".

The company has reported an Earnings Per Share (EPS) of Rs.0.24 for the quarter ended June 30, 2007 compared to Rs.0.27 during quarter ended June 30, 2006.

The figures for the quarter ended June 30, 2006 have been restated by the management after considering the relevant effects of the Composite Scheme of Arrangement between the Company, Arvind Brands Ltd (subsidiary), Arvind Fashions Ltd (subsidiary) and their respective shareholders which was sanctioned by the High Court of Gujarat on November 24, 2006 and was effective from April 01, 2006.

The stock closed on Friday at Rs.48.15, down by Rs.1.80 or 3.60%. The total traded quantity was 2077968 compared to 2 week average of 1497518. The stock hit an intraday high of Rs.50.95 and low of Rs.47.80.

Source : Equity Bulls

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