Satnam Overseas Ltd records 135% increase in profit at Rs 4.85 cr

New Delhi, Apr 27 (UNI) Satnam Overseas Ltd (SOL), India's leading food company, today announced an increase of 135 per cent in its net profit at Rs 4.85 crore for the fourth quarter ended 31 March, 2006.

The increase in profit is primarily due to a 41 per cent increase in branded turnover.

The company has witnessed a 37 per cent increase in its branded basmati rice category and a growth of 133 per cent in its processed food segment, which is being marketed under the Kohinoor brand.

Commenting on the results, SOL Joint MD Satnam Arora said, ''The fourth quarter results are equivalent to our expectations and conclude a notable year for Satnam Overseas Ltd.

The Company has attained an all round growth, with higher production and sales volumes.'' The comapny recorded a turnover of Rs 541 crore and profit of 21.5 crore for the financial year 2006.

It is the market leader in the Basmati rice segment with its flagship brand 'Kohinoor' commanding an estimated market share of 38 per cent in the branded Basmati rice market of India.

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