Sanwaria Agro Oil posts 344 per cent profit

Mumbai, Apr 16 (UNI) Sanwaria Agro Oil Limited, a leading soyabean processors and refined soyabean oil producer in the country, has posted a profit of Rs 16 crore for the quarter ending March 31 this year as compared to the similar period a year ago, a rise of 344 per cent.

While announcing the results for the financial year 2007, Sanwaria Agro Oil director Anil Agarwal said ''at the beginning of the financal year, we had given a topline growth of Rs 400 crore and a bottomline of Rs 12 crore. We are happy to cross these comfortably and look forward to better growth this year.'' Recently, the group forayed into real estate development and is setting up a five thousand acre land bank under its group company Sanwaria Infrastructure Limited.

The group will look into the development of land, warehousing and logistics and setting up of commercial offices, complexes and malls in its land bank. Company forays into the real estate marks the second stage of expansion for the group.

The company also exports its products to countries like South Korea, Vietnam and Indonesia, he added.

UNI