Arvind, one of the largest integrated textile players swung to profit for the quarter ended March 2010. The company reported profit of Rs 120.84 million compared to a loss of Rs 80.44 million in the same quarter last year.

Net sales, however, were down by 7.76 per cent at Rs 556.84 crore, compared to Rs 603.67 crore. The company issued a statement saying that the finance cost dropped to Rs 155 crore, as against Rs 220 crore, due to mark-to-market gain on foreign currency borrowings of Rs 22 crore, compared to a loss of Rs 63 crore in the previous year.

The overall improvement in operations, higher volumes following robust demand across all product segments, lower energy cost as a result of availability of gas for power generation and favorable exchange rate helped the company to post profit.

Their denim fabric business grew 40 per cent in volume terms. While the volume growth was 16 per cent in the domestic market, it was 72 per cent in export markets. For 2009 - 10 financial year net profit jumped to Rs 52 crore, against a net loss of Rs 47.87 crore last year. Net sales stood at Rs 2,276.95 crore, compared to Rs 2,327.20 crore last year.