INDIA: Alok Industries net up 16.49% at Rs 43.17 cr

MUMBAI: Alok Industries Limited (Alok), amongst India’s leading integrated textile manufacturers, has posted a 16.49 per cent rise in net profit at Rs 43.17 crores for the third quarter ended December 31, 2007, as compared to Rs 37.06 crore in the corresponding quarter previous year.

Net sales rose 14.76 per cent to Rs 550.78 crores compared to Rs 479.92 crores during the same quarter previous year. Exports sales during the quarter grew by 61.90 per cent to Rs 251.41 crores from Rs 155.29 crores during the corresponding quarter last year.

Commenting on the results, Dilip Jiwrajka, Managing Director, Alok Industries Limited said, “We are satisfied with the performance, especially on the export front. This overall performance has come about in spite of the challenges like the pressure on the rupee, the global recessionary trends and the restoration of our own texturising plant affected by the fire on 16th August 2007. Our endeavour would be to continue to post encouraging results and surpass expectations.”

At the beginning of this quarter, Alok undertook a restructuring exercise of the textile, infrastructure, domestic retail and international businesses of the Company and the same is underway. Alok is also hiking its holding in Mileta International by acquiring an additional 19.80 per cent stake in Mileta International for 1.75 million Euro thereby taking its stake in Mileta to 79.80%.

Another milestone for the quarter included the formalization of the Joint Venture with National Textile Corporation Ltd (NTC) for the revival of the textile mills located at the New City of Bombay Manufacturing Mills, Mumbai and Aurangabad Textile Mills, Aurangabad and for development of textile related infrastructure therein.

Established in 1986, Alok Industries Ltd. is amongst the fastest growing vertically integrated textiles solutions provider in India. A diversified manufacturer of world-class home textiles, apparel fabrics, garments and polyester yarns, Alok has capacities of 82.50 mn meters of sheeting fabric and 6700 tons of terry towels for its home textiles business, 105.00 mn meters of apparel width woven fabrics, 67200 tons per annum of knitted fabrics and 22 million pieces per annum of garments. With the commencement of spinning of cotton yarn (30000 tons per annum), Alok has achieved complete integration. The company also has a strong presence in the polyester segment with a capacity of 117550 tons per annum of polyester textured yarn supplanted by 108000 tons per annum of POY and 185000 tons of PET. The company has a blue chip international customer base comprising of world renowned retailers, importers and brands.

Send your News/Releases for publication to [email protected]
Added: February 7, 2008 Source: Press Release
Start script - 1519339273.9761 Start news id check - 1519339273.9762 After news id check - 1519339273.9765 After cookie_code - 1519339274.7274 Before news detail - 1519339274.7274 After news detail - 1519339274.7279 Start cat select - 1519339274.7279 After cat select - 1519339274.7281 before preg replace - 1519339274.7282 After preg replace - 1519339274.7282 Before tag engine - 1519339274.7282 After tag engine - 1519339274.7318 Before mptt engine - 1519339274.7318 After mptt engine - 1519339274.7318 Before related engine - 1519339274.7318 After related engine - 1519339274.7332 Before update hits - 1519339274.7332 After update hits - 1519339274.7334 After update news_hits - 1519339274.7338 After mem_only_views - 1519339274.7339 -------------------------------------------------- Total Exec time:- 0.75780010223389
AddThis Social Bookmark Button   Tell a friendBookmark AddThis Feed Button
Related News:

Website design by InWiz • © - 2000-2018. Internet Wizards All rights reserved. About usTerms & ConditionsDisclaimerPrivacy policy • 22-02-2018