BENGALURU: Indian clothing retailer Arvind Ltd posted a 2.1% rise in fourth-quarter profit as demand for its textiles remained steady.
The company, which sells international brands like Tommy Hilfiger, Arrow and Calvin Klein, said its consolidated net profit rose to 990.3 million rupees ($11.9 million) from 970 million rupees a year earlier.
Indian retailers are overcoming sluggish demand and restrained consumer spending by rapidly offering products at discounts to sway consumers.
However, they continue to see slower volume growth amid increasing competition.
Arvind posted a 10.3% rise in revenue from operations, while revenue from its core textile segment, which accounts for nearly 72% of total sales, grew 5%.
The company said it saw a recovery in denim sales during the quarter, while garments and woven products sales grew.
The advanced materials segment, through which Arvind makes fabrics and protective gear for construction work, grew about 21%.
“With inventory correction behind and fresh order booking and onboarding of new customers, demand outlook is positive for the financial year 2025,” the company said in its investor presentation.
The retailer added that it plans to raise its capital expenditure to 4-4.50 billion rupees for new projects.
Additionally, it approved a dividend of 4.75 rupees per share, including a one-time special dividend.
Rival Shoppers Stop reported a 53% rise in fourth-quarter profit, helped by demand in its beauty segment as well as luxury products.
Tata Group-owned Trent posted a five-fold jump in quarterly profit as it opened more of its lower-priced Zudio brand of stores.
