Ruchi Soya's net profit down by 62% in FY12

NEW DELHI: Ruchi Soya Industries Ltd today reported a 62.5 per cent fall in consolidated net profit at Rs 87.96 crore in the 2011-12 fiscal, weighed down by high interest costs and other expenses.

The company had posted a net profit of Rs 234.40 crore in the previous financial year.

In a filing to the Bombay Stock Exchange (BSE), the company said total income rose to Rs 30,269 crore in the year ended March 2012, from Rs 18,183 crore in the previous year.

However, financial costs remained high at Rs 662.46 crore, against Rs 255 crore in the reviewed period. Even expenses such as cost of materials rose to Rs 29,754 crore in the 2011-12 fiscal, from Rs 17,779 crore in the previous year.

Ruchi Soya is engaged in vegetable oils and other food products. It sells high protein soya food under the Nutrela brand.

Shares of the company fell by 2.29 per cent to Rs 85.50 apiece at around 1400 hours on the BSE today.