Vadilal Industries Q1 net profit up 59%

AHMEDABAD: Vadilal Industries Limited has reported a 59% jump in Q1 net profit at Rs 13.78 crore as against Rs 8.66 crore in the Q1 of previous year. Net sales in Q1 of 2012-13 have gone up by 25% to Rs 133.37 crore over previous fiscal's first quarter turnover of Rs 106.75 crore, the company said.

MD of the company Rajesh Gandhi said expansion in production capacities completed last year and aggressive marketing campaigns during this summer paid off.

The company's board has also recently given approval for undertaking capital expenditure of Rs. 30.62 crore towards expansion-cum-modernisation of its ice-cream production facilities situated at Pundhra in Gujarat and at Bareilly in Uttar Pradesh, as well at its processed food division situated at Dharampur in Gujarat.