India : Alok’s income rides on fabric & garment success
October 30, 2014
Fibre2fashion.com, India
Riding on the higher sales in fabric and garment, Alok Industries second-quarter profit has gone up 28% with net income reaching Rs326.4 million ($7.2 million) from Rs254.6 million last year.Sales have gone up to Rs4.17 billion from Rs3.45 billion.The company has immensely gained from expanding its product profile beyond bed linen and home textile and including garment and apparel fabric in its kitty.
It is in the process of capacity expansion to produce woven apparel fabrics by almost four times, knitted apparel fabric by three times and garment by eightfold.
The abolition of quota regime has benefited the company which has gained from higher cotton production and cheap labour. India is third biggest cotton producer in the world.
