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How the shift to cooking at home has helped basmati rice seller LT Foods

The company has seen a surge in demand for its rice brands both in India and overseas, says LT Foods Business Head Ritesh Arora

August 25, 2020 / 10:25 IST
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Be it a biriyani, pulao or jeera rice, it has to be made with basmati rice. Preferring home-cooked food for safety, people across the country have been trying their hand at new delicacies through the Covid-19 lockdown, and basmati seller LT Foods has been a big beneficiary of this trend.

In a freewheeling chat with Moneycontrol, Ritesh Arora, India & Far East Business Head, LT Foods, said: “We have seen a surge in demand for our products in India as well as in international markets. Our consumer business has seen strong growth in all the markets as consumer demand for packaged rice has increased.”

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Arora, however, refrained from revealing any numbers on how many tonnes of rice LT Foods, which sells basmati under the Daawat brand, has sold in the lockdown so far.

However, the company’s first-quarter earnings for FY21 gave some indication of the rise in demand. LT Foods posted an 88.57 percent increase in its consolidated net profit to Rs 82.65 crore in Q1 (April-June) on strong sales. Net profit stood at Rs 45.42 crore in the year-ago period.