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Co-optex clocks Rs.315 Cr sales in 2016-17: Minister

Press Trust of India  |  Chennai 

: Handlooms and O S Manian today said the Handloom Weavers' Co-operative Society Ltd., popularly known as Co-optex, has recorded total sales of Rs.315 crore in 2016-17.

"Co-optex has recorded total sales of Rs.315 crore in 2016-17 and registered Rs.Two crore as profit. It has undertaken various steps during the current financial year to increase sales," he was quoted as saying in an official release.

The Minister and senior officials were in Vedaranyam to inaugurate a new showroom set up at a cost of Rs 30 lakh.

In the efforts to ramp up sales, he said one of the initiatives was to set up new Co-optex outlets across the State.

Set up in 1935, Co-optex currently has 194 outlets across the country.

The newly opened outlet in Vedaranyam would sell various products including cotton shirts, sarees, bed sheets at 20 per cent discount.

During festive seasons, it would offer discounts upto 30 per cent, he said.

Nagapattinam district Collector S Palaniswami, Co-optex Managing Director T N Venkatesh, the company's Vice-President Jayanthi Somasundaram, and senior officials participated, the release added.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Sat, May 20 2017. 17:42 IST