YnFx Report: Alok Industries Q1FY08 Net Profit up 104% at Rs 55.01 crores

Aug 9, 2007: Alok Industries Limited (Alok), amongst India’s leading integrated textile manufacturers, has posted a 104.35 per cent rise in net profit at Rs 55.01 crores for the first quarter ended June 30 2007, as compared to Rs 26.92 crore in the corresponding quarter previous year. This is inclusive of “Other Income” that includes forex gain of Rs 39.55 crore. The net profit excluding “Other Income” grew by 1.93 per cent to Rs 27.44 crores as compared to the corresponding quarter of the previous year.

Net sales rose 17.06 per cent to Rs 418.90 crore compared to Rs 357.86 crore during the same quarter previous year. Exports sales during the quarter grew by 85.35 per cent to Rs 187.61 crore from Rs 101.22 crore during the corresponding quarter last year.

Commenting on the results, Mr Dilip Jiwrajka, Managing Director, Alok Industries Limited said, “It was an encouraging performance considering the current challenges. The Company’s recent initiatives in the areas of organic cotton and re-aligning of its garment and retail businesses into wholly owned subsidiaries for rapid growth is expected to pay rich dividends. Our international home textile presence is set to expand substantially with the licensing agreement signed with the NY headquartered AISLE 5 LLC for distribution of home textiles in US super markets under their lifestyle brands. We are optimistic about our performance in the ensuing quarters.”

About Alok Industries Limited
(BSE Code: 521070) (NSE Code: ALOKTEXT) (Reuters Code: ALOK.BO) (Bloomberg Code: ALOK@IN)

Established in 1986, Alok Industries Ltd. is amongst the fastest growing vertically integrated textiles solution providers in India. A diversified manufacturer of world-class home textiles, apparel fabrics, garments and polyester yarns, Alok will soon have annual capacities for 30000 tons of cotton yarn, 82.50 mn meters of sheeting fabric and 6700 tons of terry towels for its home textiles business, 105.00 mn meters of apparel width woven fabrics, 67200 tons of knitted fabrics and 22 million pieces of garments. The Company also has a strong presence in polyester with its annual capacity to shortly reach 125000 tons of polyester textured yarn supplanted by 182500 tons of POY / Chips through the continuous polymerization route. The company has a blue chip international customer base comprising of world renowned retailers, importers and brands.

For further information contact:
Adfactors PR, Mumbai
Preeti Saraf / Sabita Rajendran
09833801825 / 098701 13541
Tel: 91-22-22813565
Fax: 91-22-22813569
Email: Preeti.saraf@adfactorspr.com / sabita.rajendran@adfactorspr.com

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