TT’s profits soar

TT Limited’s profits for the quarter ending June are on high this fiscal. The company recorded a

turnover of Rs 113.99 crores (a 75 per cent growth over the June 2009 quarter) and a net profit of Rs 4.33 crores (a 17 times growth over the June 2009 quarter).

The overall recovery in the global textiles scenario has helped in pushing up numbers. What’s more the company’s thrust on its value added knitwear segment has helped it record a top-line growth of 253 per cent. Besides, TT has increased its ad budget by 50 per cent against the last June quarter. It has launched a marketing and publicity campaign for its knitwear range.

The company has also introduced a range of new products in its knitwear segment, inner wear and casual wear. It plans to diversify its knitwear markets to the Middle East and Africa. They are already exporting fiber and yarn to over 35 countries. Moreover, the company has introduced a range of organic vests and briefs for the first time in India. Though the local market is growing by 20 per cent, the company has been able to do much better due to effective leveraging of its brand equity and a double-edged strategy of product and market diversification.