Tilak Nagar Industries' Q2 net up by 70 pc to Rs 12.61 cr

NEW DELHI: Alcohol beverage maker Tilak Nagar Industries (TI) on Saturday said its net profit rose by 69.94 per cent to Rs 12.61 crore for the second quarter ended September 30.

The company had a net profit of Rs 7.42 crore in the same period last financial year.

Net sales of the company rose to Rs 127.08 crore for the second quarter ended September 30, compared to Rs 70.20 crore in the corresponding period last fiscal, Tilak Nagar Industries said in a statement.

"With strong manufacturing expertise and a diversified product bouquet, we are confident of capitalising the opportunities in the market," Tilak Nagar Industries CMD Amit Dahanukar said.

He further added:" This is an exciting time for TI, we are energised and focussed on further developing our brand portfolio with new variants".

The company sold 27.8 lakh cases in the latest quarter, as compared to 18.9 lakh cases in the same period previous fiscal, it said.

The company's brandy and whiskey segments contributed 65 per cent and 19 per cent respectively of the total volume sales, it added.

"TI anticipates healthy operations for the remainder of FY 2011. The company stands to benefit from the recent ramp up in its capacity expansion, it said.

The new grain facility at Shrirampur, which is expected to commence commercial production shortly, will support the premiumisation of its brands as well as allow benefits of cost reduction," it added.