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Alok Industries Q4FY07 net profit up 41.25% at Rs.49 crores

Apr '07
Alok Industries Ltd (Alok), amongst India's leading integrated textile manufacturers, has posted a 41.25% rise in net profit at Rs. 49 crores (excluding forex gain of Rs. 33.43 crores) for the fourth quarter ended March 31, 2007, as compared to Rs. 34.69 crores in the corresponding quarter of the previous year.

Net sales rose 40.80% to Rs. 574.08 crores compared to Rs. 407.74 crores during the same quarter of the previous year.

Exports sales during the quarter grew by 118.63% to Rs. 256.69 crores from Rs. 117.41 crores during the corresponding quarter of last year.

For the full year ended March 31, 2007, net profit grew 33.34% to Rs. 145.62 crores (excluding forex gain of Rs. 33.43 crores) compared to Rs. 109.21 crores in the previous year. Net sales for the full year ended March 31, 2007 rose 28.74% to Rs. 1829.04 crores compared to Rs. 1420.70 crores in the previous year.

Commenting on the results, Mr Dilip Jiwrajka, Managing Director, Alok Industries Limited said, “Our belief in setting up global sized capacities with the best in class technology has paid off with our exports recording their highest growth ever. We will continue to invest in size and technology to provide an unmatched range of products and service to our customers.”

Alok Industries recently entered into a Trademark License Agreement with Peacock Alley Inc, a Dallas-based premium brand for home linens in the US. Under the terms of this agreement, Alok will market home linens in India under the Peacock Alley brand, while Peacock Alley will provide design and marketing inputs to Alok.

Alok Industries will position the Peacock Alley brand for sale in the premium category in the domestic market. “This is the next stage in our endeavor on the retail front to create value though strategic tie-ups” added Mr. Jiwrajka.

Click here to view unaudited financial results:

Alok Industries Ltd

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