RSGBL net up 132 pc in Q4FY07

New Delhi, June 12 (UNI) Riddhi Siddhi Gluco Biols Ltd (RSGBL), largest producer of starch and derivatives has recorded a 132.48 per cent jump in its net profit at Rs 9.41 crore for the quarter ended March 2007 as against Rs 4.05 crore in the previous quarter a year ago.

Besides, the company posted a 136 per cent increase in its net profit at Rs 26.76 crore for the year ended March 2007 as against Rs 11.34 crore a year ago.

The sales for the year ended March 2007 stood at Rs 355.87 crore as against Rs 243.13 crore, an increase of 46.36 per cent over the previous year.

Company Managing Director Ganpatraj Chowdhary said, ''Our recent capacity expansion of modified starch at Gokak plant and the management's focus on better product mix and utilisation of utilities have contributed to improved overall growth.'' ''We have been maintaining a growth rate of over 25 per cent in sales for the last seven years and this year we have achieved a growth of 46 per cent. We are confident of achieving a sustained growth rate of over 30 per cent in the coming years as well,'' he added. The company's new plant, coming up at Pantnagar (Uttarakhand), is in the final stages of completion and trial runs for some of the products have already commenced.

Besides, the company has added capacity at its Viramgam unit and on completion of the Uttarakhand project, the total maize processing capacity of the company would increase to 5,00,000 lakh tonnes per ammi.

UNI