Arvind Ltd shares jump nearly 6 pc after Q2 earnings

New Delhi, Nov 7 (PTI) Shares of textile and apparel firm Arvind Ltd on Friday jumped nearly 6 per cent after the firm reported a 70 per cent rise in consolidated net profit in the September quarter.

The stock surged 5.88 per cent to settle at Rs 328.45 on the BSE. During the day, it climbed 7.35 per cent to Rs 333.

At the NSE, it jumped 5.92 per cent to Rs 328.30.

Arvind Ltd on Friday reported a 70 per cent rise in consolidated net profit to Rs 106.74 crore in the September quarter, on the back of increased revenue and a deferred tax charge outgo incurred in the year-ago period.

The company had posted a consolidated net profit of Rs 62.77 crore in the second quarter last fiscal year, Arvind Ltd said in a regulatory filing.

Arvind Ltd said it incurred a deferred tax charge outgo of Rs 29.35 crore in the second quarter last fiscal year, consequent to the change in long-term capital gains tax rate from 20 per cent plus surcharge and cess (with indexation) to 12.5 per cent plus surcharge and cess (without indexation).

Consolidated revenue from operations for the quarter under review stood at Rs 2,371.14 crore, up from Rs 2,188.31 crore in the corresponding period last fiscal year, it added. PTI SUM TRB