New Delhi, LT Foods, owner of basmati rice brands 'Daawat' and 'Royal', on Friday reported 14 per cent rise in consolidated net profit at Rs 150.24 crore for the fourth quarter of FY 2023-24 due to strong sales. of.
A year ago the company's profit was Rs 131.81 crore.
Total income rose to Rs 2,091.73 crore during the January-March quarter of 2023-24 from Rs 1,834.95 crore in the same period a year ago, the company said in a regulatory filing.
Expenditure was higher at Rs 1,898.46 crore compared to Rs 1,685.92 crore a year ago.
For the full financial year 2023-24, LT Foods' net profit increased by 41.35 per cent to Rs 597.59 crore, from Rs 422.75 crore last year.
Total income increased to Rs 7,822.05 crore from Rs 6,978.81 crore a year ago.
Commenting on the performance, Ashwani Arora, Managing Director, LT Foods, said that despite facing a challenging external environment, the company has recorded strong growth in revenue and profitability over the next one year.
Three major segments – Basmati and other specialty rice; organic food and ingredients; He said ready-to-eat and ready-to-cook have collectively delivered an impressive growth of 12 per cent year-on-year (YoY).
"This consistent performance underlines our strategic focus on continued investment and innovation across brands across different geographies, which has significantly strengthened our domestic and international market position," he said.
Shares of LT Foods rose 0.44 per cent to Rs 229.40 on the Bombay Stock Exchange by 1 pm.
A year ago the company's profit was Rs 131.81 crore.
Total income rose to Rs 2,091.73 crore during the January-March quarter of 2023-24 from Rs 1,834.95 crore in the same period a year ago, the company said in a regulatory filing.
Expenditure was higher at Rs 1,898.46 crore compared to Rs 1,685.92 crore a year ago.
For the full financial year 2023-24, LT Foods' net profit increased by 41.35 per cent to Rs 597.59 crore, from Rs 422.75 crore last year.
Total income increased to Rs 7,822.05 crore from Rs 6,978.81 crore a year ago.
Commenting on the performance, Ashwani Arora, Managing Director, LT Foods, said that despite facing a challenging external environment, the company has recorded strong growth in revenue and profitability over the next one year.
Three major segments – Basmati and other specialty rice; organic food and ingredients; He said ready-to-eat and ready-to-cook have collectively delivered an impressive growth of 12 per cent year-on-year (YoY).
"This consistent performance underlines our strategic focus on continued investment and innovation across brands across different geographies, which has significantly strengthened our domestic and international market position," he said.
Shares of LT Foods rose 0.44 per cent to Rs 229.40 on the Bombay Stock Exchange by 1 pm.
