Indian footwear manufacturer Liberty Shoes Ltd has posted increased sales and profits for the first quarter ended March 31.

Net sales reached Rs57.66 crore ($12.8 million), an increase of 31.3% compared with the Rs43.9 crore reported in the first quarter of 2005.

For the full year, net sales rose 15% to Rs204.4 crore from Rs177.5 crore in the prior year, with exports increasing 14.4% to Rs62.9 crore.

Net profit jumped 70% to Rs5.8 crore in the first quarter, whilst it grew an impressive 101% for the full year to reach Rs19.7 crore.

According to the company, Liberty is the only Indian company that is among the top five manufacturers of leather footwear in the world. It produces more than 50,000 pairs of footwear a day.