Ruchi Soya net profit soars by 58.5 per cent
Indore, Jan 25 (UNI) Ruchi Soya Industries Limited, India's largest edible oil and soya foods company, reported a net sales of Rs 3196.63 crore for the quarter ended December 31, 2007 representing a growth of 12 per cent over the corresponding period last year. Net profit for the quarter grew 58.5 per cent to Rs 59.47 crore.
The sales for the nine months ended December 31, 2007 grew 29.20 per cent to Rs 7519.19 crore, while net profit for the same period increased to Rs 119.65 crore representing an increase of 59.30 percent over the same period last year.
According to the company's release, branded sales contributed to the growth in profits, which have gone up by 118 per cent, crossing Rs 904 crore during the quarter as compared to Rs 414 crore in the same period last year.
Commenting
on
the
results,
Mr
Dinesh
Shahra,
Managing
Director,
Ruchi
Soya
Industries
Limited,
said
''We
are
pleased
to
report
excellent
performance
of
the
company
for
the
quarter
ended
December
2007.
The
strong
growth
in
margins
was
essentially
contributed
on
account
of
higher
contribution
from
branded
sales,
higher
sales
realisation
of
our
end
products,
strategic
focus
towards
value
added
products
across
verticals
and
growing
demand
for
edible
oils
and
soya
products.'' UNI
AA
BJR
AS1417