Ruchi Soya net profit soars by 58.5 percent

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 percent over the corresponding period last year. Net profit for the quarter grew 58.5 percent to Rs 59.47 crore.

The sales for the nine months ended December 31, 2007 grew 29.20 percent 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 percent, 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 realization of our end products, strategic focus towards value added products across verticals and growing demand for edible oils and soya products.

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