LT Foods Q1 profit rises 25% on strong revenue

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Consumer food company LT Foods Ltd on Friday posted a 25 percent rise in its consolidated net profit to Rs 95.16 crore in the June 2022 quarter on strong revenue.

Its net profit stood at Rs 76.17 crore in the same quarter of the previous fiscal, according to a regulatory filing.

Its total income rose 32 per cent on a consolidated basis to Rs 1,620.37 crore in the April-June quarter of the 2022-23 fiscal against Rs 1,231 crore in the year-ago period.

Expenses remained higher at Rs 1,490 crore compared to Rs 1,128.10 crore in the said period. Expenses remained higher at Rs 1,490 crore compared to Rs 1,128.10 crore in the said period.

LT Foods Managing Director and CEO Ashwani Kumar Arora said the Q1 rise was aided by growth in all three business segments — Basmati and other speciality rice, organic, convenience and health segments across geographies.

The company sells basmati rice and other products under the brand name Daawat, Royal, Devaaya, Karikari and Ecolife, among others.