INDIA - New Delhi based dairy food company, Kwality Dairy (India) Limited has recorded a 37.23 per cent increase in net profit at $25 million during 2013-14 financial year (April 2013-March 2014).
During the same period last fiscal year, the company’s net profit was recorded at $17.74 million.
Net sales were also up by 27.33 per cent during the period at $845 million, as compared to $664 million earned during 2012-13.
The earning before interest, depreciation, taxes and amortisation (EBIDTA) margin during 2013-14 was 5.94 per cent, against 5.70 per cent in the last fiscal year.
“Despite inflationary pressures we were able to report a strong set of numbers with positive cash flow from operations in India on account of contribution from fresh dairy products and passing on the rising input costs,” Sidhant Gupta, executive director, Kwality Ltd commented on the results.
“Our impetus and investment in branded dairy products has started bringing in results. Our focus would remain on increasing share of branded and value-added products and emerge as a leading dairy products company,” Mr Gupta ddded.
During fourth quarter ended March 2014, the company posted a 141.76 per cent increase in net profit at $6.13 million, against $2.53 million earned during last quarter of the year.
The company’s fourth quarter net sales also registered a growth of 28.71 per cent to $222 million, compared to $172 million during same quarter in 2012-13.
EBIDTA margin for the fourth quarter was 6.19 per cent, as against the 4.54 per cent reported in the fourth quarter of fiscal year 2013, the company said.
The board has recommended a dividend of 10 per cent for the year.
TheMeatSite News Desk