Basmati rice company KRBL Ltd reported over two-fold jump in its consolidated net profit at Rs 110.75 crore for the quarter ended December. As per company’s management, consumer acceptability of the brand helped increase profits.
“90 percent of company’s revenues are from branded sales,” said Anoop Gupta, joint MD of KRBL in an interview with CNBC-TV18.
The company has an inventory of Rs 2,000 crore and it expects inventory gains at about 25-30 percent. Gupta said the inventory will be en-cashed in next one and a half years.
Company's income from operations rose to Rs 818.47 crore in the third quarter of this fiscal from Rs 733.17 crore in the corresponding period of the previous year.
Operational expenditure fell to Rs 654.35 crore during October-December period of this fiscal from Rs 675.08 crore in the year-ago period.
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