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Bangalore, June 12 Reeling under the impact of a strong rupee, garment exporter Gokaldas Exports has posted a 52.4 per cent dip in the fourth-quarter net profit at Rs 8.63 crore. It clocked a marginal increase in revenues at Rs 279 crore compared with Rs 276 crore last year for the fourth quarter. For the year ended March 31, 2008, total income was Rs 1,092.71 crore (Rs 1,039.50 crore). Net profit was at Rs 47.6 crore (Rs 70.28 crore). According to the company, the “adverse impact of the steep rupee appreciation has eroded profitability of the business... However, we believe in a strong future for this business and our investments into the business have been maintained. This has resulted in a higher depreciation of Rs 36 crore, as against Rs 28 crore last year.” The company’s order book for the first and second quarter is over Rs 500 crore, it said.

— Our Bureau

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