Mumbai: Alok Industries, the Rs 1,824-crore textile company, plans to increase its export earnings. It is aiming revenues of Rs 1,100 crore from the segment this financial year. The company has already attained its export turnover worth Rs 640.4 crore out of its total turnover of Rs 1,434.4 crore in the first nine months of this financial year, a rise of 66.2 per cent on a year-on-year (y-o-y) basis. Alok Industries were able to withstand the impact of a strengthening rupee through expanding sales of higher value products across our product segment, that includes home furnishings, men and women''s clothing. In addition, the company''s growth in sales in the European market was derived from their earlier Czech-based acquisition Mileta, which gave them manufacturing and marketing capabilities in the region. The company''s other main export markets are in Latin America. In December 2007 quarter, its operating profit grew 22.3 per cent y-o-y to Rs 134.8 crore, while its net sales increased 14.75 per cent to Rs 550.78 crore. Meanwhile, in the domestic market, Alok Industries is increasing its retail network from 20 stores to 125 stores by the end of December 2008.
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