Alok Industries, a Mumbai-based integrated textile firm, has posted a decline of 3.03 per cent in its net profit for the quarter ended December, 2008 at Rs 47.32 crore compared with Rs 48.80 crore in the corresponding previous quarter. Its net sales during the period stood at Rs 816.41 crore against Rs 550.78 crore last year, up 48.23 per cent.
The company which will be completing its expansion projects by the end of March this year, has its exposure in the export markets with Wal-Mart and Target as its clients. During the December quarter, the company's exports rose by 30.4 per cent to Rs 327.83 crore from Rs 251.41 crore in the corresponding previous quarter.
Dilip Jiwrajka, managing director of the company said that it was because of our increased capacities, greater efficiencies that in challenging times, we increased our sales by 48 per cent. "Our order books are healthy and we expect to maintain growth in revenue and profits going forward," he added.
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