Alok Ind Q1 net up 104.34%; FY06-07 net up 50.95%

New Delhi, Aug 1 (UNI) Textiles company Alok Industries Ltd today said its net profit increased 104.34 per cent to Rs 55.01 crore for the first quarter ended June 30, 2007 from Rs 26.92 crore for the same period a year ago.

The company's total income also shot up 28.30 per cent to Rs 458.64 crore for Q1 FY07-08 against Rs 357.45 crore for Q1 FY06-07.

Its annual net profit also jumped 50.95 per cent to Rs 164.86 crore for the year ended March 31, 2007 as compared to Rs 109.21 crore for the previous fiscal.

The total annual income also registered a hike of 30.58 per cent to Rs 1861.98 crore for FY2006-07 against Rs 1425.84 crore for previous financial year.

The company also recommended an equity dividend of 14 per cent at Rs 1.40 per share for the financial year ended March 31, 2007.

Alok Industries has also proposed a re-alignment of its garment and retail business into Strategic Business Unit (SBUs) as wholly-owned subsidiaries, said a statement.

UNI