LT Foods net profit at Rs 14.4 crore in Jul-Sept quarter
Basmati rice processor LT Foods today reported a consolidated net profit of Rs 14.4 crore for the quarter ended September 30.
By PTI |
NEW DELHI: Basmati rice processor LT Foods today reported a consolidated net profit of Rs 14.4 crore for the quarter ended September 30.
The company, which markets rice under the 'Daawat' brand, had posted a net loss of Rs 24 crore in the year-ago period, it said in a statement.
The consolidated sales of the company rose by 88 per cent to Rs 434.5 crore in the July-September quarter this fiscal from Rs 231 crore in the same quarter of 2011-12 fiscal.
"Sales and profitability grew in the quarter and half year ended September 30, 2012 with overall improvement across all major markets," LT Foods Managing Director Vijay Kumar Arora said.
The company will soon launch value added rice products, rice based snacks, organic foods, he added.
Additionally, under its brand 'My My', LT Foods will come out with products in the healthy snack market with products like rice-based namkeen, cakes and chips for an overall growth of 25 per cent, Arora said.
The Gurgaon-based LT Foods is into exporting and marketing of basmati rice and other rice based products.
Shares of the company today rose by 2.31 per cent to end at Rs 63.90 apiece from previous close on BSE.
The company, which markets rice under the 'Daawat' brand, had posted a net loss of Rs 24 crore in the year-ago period, it said in a statement.
The consolidated sales of the company rose by 88 per cent to Rs 434.5 crore in the July-September quarter this fiscal from Rs 231 crore in the same quarter of 2011-12 fiscal.
"Sales and profitability grew in the quarter and half year ended September 30, 2012 with overall improvement across all major markets," LT Foods Managing Director Vijay Kumar Arora said.
The company will soon launch value added rice products, rice based snacks, organic foods, he added.
Additionally, under its brand 'My My', LT Foods will come out with products in the healthy snack market with products like rice-based namkeen, cakes and chips for an overall growth of 25 per cent, Arora said.
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The Gurgaon-based LT Foods is into exporting and marketing of basmati rice and other rice based products.
Shares of the company today rose by 2.31 per cent to end at Rs 63.90 apiece from previous close on BSE.
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