Alok net dips marginally to Rs 42 crore

CORPORATE SCORECARD

Alok Industries, an integrated textile firm, has posted a marginal decline of 2 per cent in its net profit to Rs 42.15 crore for the September quarter compared with Rs 42.97 crore in the previous corresponding quarter. Net sales jumped 50.21 per cent during the period to Rs 698.14 crore as against Rs 464.78 crore last year.

During the period, the company posted a loss of around Rs 2 crore on forex front, whereas in the corresponding previous quarter the company had registered a Rs 10-crore forex gain. The company’s operating net profit for the quarter was up by 26.6 per cent at Rs 45.26 crore compared with Rs 35.75 crore last year.

 

Managing Director Dilip Jiwarajka said, “The company is well poised to take advantage of the rupee’s depreciation against the dollar and other currencies. Alok has a healthy order book and we are confident of maintaining the growth rate in the current financial year.”

Chief Financial Officer Sunil Khandelwal added, “We had good sales in the local as well as international markets.” Export sales jumped by 29.67 per cent to Rs 261.16 crore from Rs 201.4 crore during the quarter.