EconomyCompanies
India Gate maker KRBL's quarterly profit jumps 50% to ₹258.93 crore
The basmati rice company's revenue rose 14% in the September quarter, and its profit for the first half of the year is already well past last year's figure.
Key points
- KRBL's consolidated profit rose 50% to ₹258.93 crore.
- Revenue from operations grew 14.3% to ₹1,727.36 crore.
- Half-year profit reached ₹519.67 crore, against ₹322.69 crore.
KRBL, the company behind the India Gate basmati rice brand, on Monday reported a 50% jump in September-quarter profit as sales grew at a steady clip.
Consolidated net profit for the quarter ended 30 September came to ₹258.93 crore, against ₹172.11 crore a year earlier. Revenue from operations rose 14.3% to ₹1,727.36 crore from ₹1,511.08 crore. Profit before tax climbed to ₹349.04 crore from ₹232.52 crore, and earnings per share rose to ₹11.31 from ₹7.52.
Flat on the previous quarter
Against the April-June quarter, the picture was steadier. Revenue rose from ₹1,495.86 crore, while profit edged down slightly from ₹260.74 crore.
For the first six months of the financial year, KRBL’s profit reached ₹519.67 crore, up from ₹322.69 crore in the same period last year. Half-year revenue was ₹3,223.22 crore, against ₹3,095.43 crore.
Shares rose before the numbers
KRBL describes itself as an integrated rice company, with basmati processing, branding and exports, along with an energy business.
Its shares ended about 5.2% higher at ₹363 on Monday. The results were filed with the stock exchange at about 4 pm, after trading had closed, so investors will react to the numbers on Tuesday. The stock is still down about 6% over the past year.