Fragrance maker S H Kelkar and Company on Wednesday reported a massive 414.50 percent jump in its consolidated net profit at Rs 23.41 crore for the third quarter ended December 2015. The company had registered a consolidated net profit of Rs 4.55 crore in the corresponding period last year, it said in a statement. Total income from operations on a consolidated basis stood at Rs 230.05 crore during the quarter under review as against Rs 195.85 crore in the year-ago period.
The company's total income increased by 10 percent to Rs 661 crore in the 9-months period ended December 2015 from Rs 600 crore in same period last year. Profit after tax stood at Rs 54 crore against Rs 49 crore earlier, up 9.4 percent. The company got listed on the bourses during the quarter.
"Post IPO, we have further augmented our balance sheet to become a net debt free company. With adequate capacities already in place and a business that generates healthy free operating cash flows we are comfortably poised to pursue our strategic initiatives and are excited about our future and our growth prospects," SH Kelkar and Company Chief Executive Officer and Director Kedar Vaze said. The company's Board of Directors also considered and approved the acquisition of Mumbai-based Hi-Tech Technologies (HTT) engaged in the business of manufacturing and sales of flavours.
The acquisition would be on a slump sale basis, for a net aggregate consideration of Rs 28.6 crore and is targeted to close in Q1 FY 2017, the release said.
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