Footwear maker Liberty Shoes is to establish a wholly-owned subsidiary in Dubai aimed at growing the company's presence in overseas markets.

The subsidiary has been given the go-ahead by Liberty's board of directors, Liberty told the Bombay Stock Exchange.

Liberty made a net profit of INR44.65 million for the three months ended 30 September compared to INR1.12m in the same period last year, it was reported today. Second-quarter net sales totalled INR471.48m compared to INR387.53 a year ago.