Manpasand Beverages Q1 net at ₹36 crore
The company’s total revenue stood at ₹340.06 crore in the quarter under review
New Delhi: Fruit drinks manufacturer Manpasand Beverages on Thursday reported 1.30% rise in net profit at ₹36.37 crore for the quarter ended 30 June, 2018.
The company had posted a net profit of ₹35.9 crore during the year-ago period. Total revenue stood at ₹340.06 crore in the reported quarter. It was ₹392.94 crore in April-June 2017, it said in a BSE filing.
The company said revenue from operations is not comparable with the corresponding year-ago quarter due to implementation of GST from 1 July, 2017.
“Issues unrelated to operations caused some spill-over and impacted our business in June. Despite this challenge, we managed to perform relatively well and kept ourselves focussed on expansion and product development. Operations are now back to normal and we continue to be confident about our growth plans,” chairman and MD Dhirendra Singh said.
In May this year, the company’s statutory auditor Deloitte Haskins & Sells resigned ahead of a board meeting scheduled for 30 May for consideration of financial results.
Deloitte Haskins & Sells had said Manpasand Beverages failed to provide them with “significant information” on the financial results for 2017-18.
Shares of Manpasand Beverages settled 4.98% higher at ₹132.75 apiece on BSE.