Anil products net profit soars by 121 per cent

AHMEDABAD: Anil Products (APL), a flagship company of food and bio-industrial Anil group, on Monday reported a net profit of Rs 8.82 crore for the quarter ended June 30, over Rs 3.98 crore in the corresponding period last fiscal.

The BSE listed company Profit Before Tax (PBT) stood at Rs 11.23 crore for the quarter ended June, as against a profit of Rs 5.35 crore in the corresponding period a year ago, thereby showing an increase of over 110 per cent.

The company net sales increased to Rs 106.19 crore in the quater ending June, a 24.28 per cent rise from Rs 85.44 crore in the corresponding period a year ago.

"The increase in sales and profits is result of successful implementation of business strategy wherein APL has shifted its focus to value added products and a solutions oriented approach," managing director of APL Amol Sheth said.

APL is amongst the largest Corn Wet Milling (CWM) units in India operating in bio-industrial sector. It manufactures complete range of starches.

"We are looking forward to increase our global presence through opening dedicated offices in Middle-East and European countries," Sheth said, while speaking about company growth plans.

"This will allow us to work more closely with our foreign customers and help us gain market share in Middle-East North Africa region and Europe," he said.