Manpasand Beverages Q3 net jumps 49.28% to Rs 7.24 crore

VADODARA: Fruit drink company Manpasand Beverages has reported a 49.28 per cent rise in net profit for quarter ended December 31, 2016 at Rs 7.24 crore, a top executive said here today.

The net profit for the corresponding period in previous fiscal stood at Rs 4.85 crore, its chairman and MD Dhirendra Singh told reporters.

The city-based company's gross sales for the quarter under review recorded a 13.97% jump to Rs 103.85 crore from Rs 91.12 crore in same period last fiscal.

EPS for Q3FY17 stood at Rs 1.27.

Singh said they have started construction for three units in Vadodara, Sri City, and Varanasi and has also identified a location in eastern part of country.

"It is part of future expansion plans as the upcoming units will not only double the company's production capacity in the next 12-18 months, but will also help us in reaching newer markets, especially in north-eastern and southern India," he said.

Singh said Rs 500 crore raised by the company through a QIP issue recently is well placed to fund the new plants with combined production capacity of 2 lakh cases per day as against current 1.7 lakh cases per day.

He said the company will introduce new brands into market soon and will also forge strategic alliances with key retailers.