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LT Foods Q1 net profit rises 88.57% at Rs 82.65 crore

The company's consolidated net profit in the first quarter of the current fiscal rose on a rise in revenue largely from its subsidiaries and joint ventures.

July 30, 2020 / 04:29 PM IST
 
 
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Leading basmati rice firm LT Foods on Thursday posted 88.57 per cent increase in its consolidated net profit at Rs 82.65 crore for the first quarter of 2020-21 fiscal on strong sales. Its net profit stood at Rs 45.42 crore in the year-ago period, according to the regulatory filing.

The company's consolidated net profit in the first quarter of the current fiscal rose on a rise in revenue largely from its subsidiaries and joint ventures.

LT Foods' consolidated net income increased to Rs 1,220.71 crore in the April-June quarter of 2020-21 fiscal from Rs 985.31 crore in the same quarter previous year.

Expenses remained higher at Rs 1,110.49 crore when compared with Rs 916.62 crore in the said period.

On a standalone basis, the company's net profit rose to Rs 26.42 crore in the first quarter of the current financial year from Rs 21.02 crore in the year-ago.

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Net income on a standalone basis increased to Rs 642.26 crore from Rs 604.49 crore in the said period.

LT Foods, which has 12 subsidiaries and joint venture firms, is engaged in milling, processing and marketing of branded and non-branded basmati rice.

It has manufacturing units of rice food products in India and the international market. Its major brands are "Daawat" and "Royal".

The company's shares on Thursday closed 15.95 per cent up at Rs 52.70 per piece on the BSE.
PTI
first published: Jul 30, 2020 04:29 pm

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