The owner of the Zara fashion chain said net income for the first six months of the year was 717m euros ($981m; £625m), up 14% on the 628m euros it made a year earlier.
Net sales rose by 12% to 6.2bn euros.
While luxury brands have generally performed well during the downturn, many High Street brands have struggled.
In a short statement, Inditex said it had opened 177 stores during the period and had nearly 10% more staff than a year ago.
The group said Zara planned to enter South Africa, Taiwan, Georgia, Azerbaijan and Peru in the coming months.
Inditex's other brands include Pull&Bear, Massimo Dutti and Bershka.
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