RSGBL annual profit up by 187 pc at Rs 11.3 cr

New Delhi, June 19: Riddhi Siddhi Gluco Biols Ltd (RSGBL), a major producer of starch and derivatives has recorded a net profit of Rs 11.3 crore for the year ended March 31, 2006, up by 187 per cent as against Rs 4 crore for the previous year ended March 2005.

The net profit for the quarter ended March 31, 2006 was Rs 4 crore, up by 210 per cent as compared to Rs 1.306 crore for the corresponding quarter of the previous year.

Earnings Per Share (EPS) for the year stands at Rs 15.07 as against Rs 4.51 for the previous year ended March 2005.

Net sales for FY06 stood at Rs 248.2 crore as against Rs 199 crore for the previous year ended March 31, 2005.

For the quarter ended March 2006, the sales turnover stood at Rs 68.5 crore, up by 11.89 per cent as compared to Rs 61.2 crore for the corresponding quarter of the previous year.

Commenting on the results, Riddhi Siddhi Gluco Biols Ltd Managing Director Ganpatraj Chowdhary said "Focus given to export market has paid rich dividends and our export income doubled during this year.

We are confident of further doubling the export earning in current year." The Ahmedabad-based company has three plants at Viramgam (Ahmedabad), Gokak (Karnataka) and Pondicherry. RSGBL is one of the key exporters to countries like Japan, Bangladesh, Srilanka, Bangkok and other South East African and Middle East Countries.

UNI