Kaveri Seed Q4 net profit jumps four-folds

NEW DELHI: Kaveri Seed Company on Thursday reported nearly four-fold jump in its standalone net profit at Rs 11.13 crore in the quarter ended March this year, on robust sale of seeds and micro nutrients products.

The Hyderabad-based company had clocked a net profit of Rs 2.79 crore in the fourth quarter of the 2011-12 fiscal, Kaveri Seed said in a BSE filing.

The company's profit rose as its total income from sale of seed and micro-nutrients increases sharply to Rs 73.98 crore in the fourth quarter of the 2012-13 fiscal, as against Rs 41.64 crore in the same period corresponding year.

The revenues from the seed division improved to Rs 65.64 crore from Rs 35.84 crore, while micro-nutrient division reported an income of Rs 8.34 crore from Rs 5.81 crore in the review period.

The net profit remained high even as the company's total expenditure rose to Rs 64.31 crore in the fourth quarter of 2012-13 fiscal, from Rs 39 crore in the year-ago period.

Shares of the company were trading down by 3 per cent at Rs 1,230 on the BSE in late afternoon trade.