Mumbai: ADF Foods on Thursday said its net profit rose by 104.11% to Rs 5.45-crore for the fourth quarter ended 31 March , 2011.
The company had reported a net profit of Rs 2.67 crore in the same period last fiscal, ADF Foods said in a filing to the Bombay Stock Exchange (BSE).
The company’s net sales for the fourth quarter rose to Rs 30.98 crore as compared to 28.78 crore in the corresponding quarter of the previous year.
For the year ended 31 March, 2011, the company posted a net profit of Rs 14.06 crore as compared to Rs 13.33-crore in the previous fiscal.
“Despite exorbitant increase in input costs, the company was able to maintain margins and through concerted efforts, we have continued to make progress in consolidating our market position as one of the leading manufacturers and suppliers of ethnic Indian food products. The acquisition of Elena’s Food Specialties has helped us increase our footprint in the US market,” ADF Foods managing director Bimal Thakkar said in a statement.
The company’s net sales rose to Rs 129.39 crore for the year ended 31 March , 2011, as against Rs 104.50 crore in the previous fiscal.
“We will now strengthen our growth in India by expanding in metros and mini metros. We expect to have a pan- India distribution of ‘ADF SOUL´ in the next 18-months,” Thakkar said.
The company also declared a dividend of Rs 1.50 for the face value of Rs 10 per share.
The food processing firm manufactures Indian pickles, chutneys, canned foods, frozen foods and spice under various brand names, and has international brands like Ashoka, Camel, Aeroplane, Khansaama and Truly Indian.
The scrips of the company on Thursday closed at Rs 58.55 on the BSE , down 0.43% from the previous close.