Trident terry sales boom, operating profit down
Home & Textiles Today Staff -- Home Textiles Today, October 24, 2007
New Delhi, India – Though profits were squeezed by currency valuations, terry towel sales at Abhishek Industries/Trident climbed smartly during the second quarter, up 46% to 1.7 billion rupees, or $43 million.
For the period ended Sept. 30, operating profit on towels fell 9.7% to 141 million rupees, or approximately $3.6 million.
Operating profit gained, however, during the first six months of the year, climbing 4.5% to 266 million rupees, or $6.7 million. Sales jumped 30.4% to 3.08 billion rupees, or $77.8 million.
During the quarter, Abishek received the 2006 Supplier of the Year award from JCPenney as well as the Award for Customer Excellence 2007 by software provider SAP.