Alok Industries Q1 net down 49% at Rs 30.07 cr
Mumbai: Integrated textiles company Alok Industries on Tuesday reported 49 percent decline in net profit at Rs 30.07 crore for the quarter ended June 30, 2012.
Its net profit for the April-June quarter last fiscal was Rs 58.96 crore, the company said in a release issued here.
However, the company's net sales went up by 48 percent for the quarter under review at Rs 2,422.75 crore, compared to Rs 1,638.19 crore in the year-ago period.
Exports for the quarter also grew by 33.59 percent at Rs 836.64 crore, as against Rs 626.29 crore in the same period of the last fiscal.
"All divisions recorded healthy growth and we expect this trend to continue in the coming quarters," Alok Industries Managing Director Dilip Jiwrajka said.
The company's order book position for all products is at fairly satisfactory levels and going forward, it intends to expand certain divisions to further integrate businesses as also to reduce fuel cost, he said.
"We will monetise our non-core realty and retail businesses and use the funds to retire debt in Alok, we will also focus on improving our ROCE and cash flows substantially," he added.