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Drumbeat: Ad Buzzaar
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Saturday, June 6, 1998
Arvind Mills net profit falls 20%
ENS ECONOMIC BUREAU
MUMBAI, June 5: Ahmedabad-based Arvind Mills has reported a 20 per cent fall in its net profit to Rs 101 crore in 1997-98 as compared to Rs 127.40 crore recorded in the previous fiscal. As a consequence, its board of directors has recommended a lower dividend of 25 per cent as against 45 per cent in 1996-97.The company's sales were up by just 7.5 per cent to Rs 928.32 crore in 1997-98 due to significantly lower value realisations in denim sales for the second half of the fiscal. The gross profit of the textile firm was Rs 183 crore which was far lower than the Rs 202.79 crore recorded in the previous fiscal. Copyright © 1998 Indian Express Newspapers (Bombay) Ltd.
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