Alok Ind Q3 net profit up 16.5% at Rs 58 crore

Textiles major Alok Industries posted a 16.57 per cent rise in its net profit at Rs 58.10 crore for the third quarter of 2009-10.

The company had earned a profit of Rs 49.84 crore in the year-ago period.

The company's net sales rose 32.59 per cent to Rs 1,082.47 crore from Rs 816.41 crore in the same period last fiscal, a company statement said.

Export sales stood at Rs 369.26 crore, up 12.64 per cent compared to Rs 327.83 crore in the same period of the last fiscal.

The company has also inked a Rs 45 crore private equity deal with Asia Bridge for its subsidiary, Alok H&A Ltd, which is engaged in the 'Cash & Carry' business of apparels and home textiles across India.

The Alok Group's overseas retail venture, Store Twenty One and QS in the UK, also generated profits, it said.

On the realty business, which the company wants to exit, it said that one floor in Peninsula Business Park has been sold.

"The progress of work in the real estate projects that the company has invested in, is satisfactory," the company said.