Home / Knowledge / News / Textiles / Alok Industries MD satisfies with Q3 performance
Alok Industries MD satisfies with Q3 performance
01
Feb '08
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.

Alok Industries Limited


Must ReadView All

Textiles | On 26th Jul 2017

Q1 2018 revenue at Raymond soars 14%

The consolidated revenue of Raymond Limited for the first quarter of...

Textiles | On 26th Jul 2017

Textile Corp of America to create 1000 jobs in Tennessee

Textile Corporation of America Inc, a leading textile manufacturer,...

Textiles | On 26th Jul 2017

Leather & footwear industry expecting incentive package

India’s leather and footwear industry is anticipating an incentive...

Interviews View All

Luke Otten
Wigwam Mills Inc

Wigwam aims to recycle discarded yarn that doesn’t make it through the...

Abhishek Ganguly
Puma India

‘As a brand, Puma is always looking for new and innovative ways to inspire ...

Evelyne Cholet
UCMTF

‘France had a reputation of being big in new ideas, but poor in marketing...

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Eric Scholler
Groz-Beckert

The Indian market has huge potential in technical textiles, and by far,...

Sanjukta Dutta
Sanjukta's Studio

<b>Sanjukta Dutta</b> creates unique garments by clubbing prints of...

Madhu Jain
Madhu Jain

She grew up in the walled city of Old Delhi, completed her studies, and...

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

July 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Thanks for your valuable feedback. Claim your free latest sustainability e-book.


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search



X