Alok’s sales up 49%

Alok Industries, one of the leading integrated textile companies in India, reported net sales

of Rs 1,644.89 crores for the quarter ended June 30, 2011, as compared to Rs 1,098.97 crores in the corresponding period in the last fiscal, registering a growth of 49.68 per cent. Export sales for the quarter ended June 30, 2011, stood at Rs 602.19 crores, as against Rs 326.85 crores in the same period last year, a growth of 38.57 per cent. During the June ’11 quarter the company’s net profit stood at Rs 57.77 crores, higher by 24.21 per cent compared to last year. EBIDTA for the quarter was at Rs 452.92 crores as against Rs 326.85 crores last year. Earning per share for the June quarter stood at Rs 0.73.

The company’s board has recommended a dividend of 2.5 per cent on equity shares of Rs 10 each for the financial year 2010 -11. It has approved the proposal for amalgamation of Grabal Alok Impex into the company. Grabal Alok is a manufacturer of embroidered products having wide application in home textiles, apparel fabrics and garments. The board has also fixed September 29, 2011, as the date for holding the company’s 25th Annual General Meeting.