New Delhi: Arvind Ltd on Monday reported 13.32% increase in consolidated net profit to ₹64.31 crore for the first quarter ended 30 June, 2018-19.
The textile and apparel company had posted a net profit of ₹56.75 crore in the April-June quarter of 2017-18. Its total income during the quarter under review stood at ₹2,874.59 crore. It was ₹2,608.28 crore in the year-ago quarter, Arvind Ltd said in a BSE filing.
It said revenue from operations, part of total income, for the first quarter of the current fiscal is not comparable with that of the year-ago period.
“Post implementation of Goods and Service Tax (GST) with effect from 1 July, 2017, revenue from operations is disclosed net of GST.
“Revenue from operations for the quarter ended 30 June, 2017 included excise duty which is now subsumed in the GST.
“Revenue from operations for the year ended 31 March,2018 includes excise duty up to 30 June, 2017,” it added.
Arvind stock was on Monday afternoon trading 0.79% up at ₹423.45 on BSE.