Ruchi Soya Industries’ fourth quarter (January-March) net profit rose 25.8% year-on-year to Rs 21.77 crore, aided by strong sales, especially to export markets.
The edible oil maker’s net sales for the three-month period were up 44% to Rs 4,811.55 crore. Exports for the quarter more than doubled to Rs 744.72 crore.
Ruchi Soya’s total expenses surged 42.7% year-on-year to Rs 4,733.53 crore as raw material costs rose 75.2% to Rs 2,837.77 crore.
The company’s consolidated net profit for 2010-11 (April-March) rose 22% from a year ago to Rs 213.15 crore, while net sales were up 27.2% to Rs 18,277.39 crore.
"The higher capacity utilization of crushing at the backdrop of favourable crop year and greater focus on exports contributed to better performance during 2010-11," said Dinesh Shahra, managing director.
Ruchi Soya's crushing capacity utilisation in 2010-11 improved by 95.8% to 1.84 million tonne.
Shahra expects positive growth momentum to continue going ahead and hopes to “perform better in coming quarter.”
Ruchi Soya shares were up 0.5% at Rs 104.30 in afternoon trade on NSE.
Source: www.moneycontrol.com
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