Pune, June 2: Chordia Food Products has declared a 18 per cent dividend for year ended March 31, 1999. The flagship company of the Pravin Group of Industries and a leading pickle manufacturer, Chordia has recorded a 32 per cent increase in net profit and 30 per cent jump in turnover.Turnover for 1998-99 has gone up to Rs 32.04 crores from last year's figure of Rs 24.46 crores. Net profit this year is Rs 1.65 crore compared to Rs 1.25 crore made last year. Gross profit has gone up 25 per cent from Rs 1.81 crore to Rs 2.26 crore this year.
Pradeep Chordia, managing director of Chordia Foods said the company is in line for major expansion this year with the setting up of a 600 tonnes per annum pickle plant at Chittiabakkam, Tamil Nadu. The existing plants at Yawat and Shirwal in Maharashtra. The company is also launching three new products this year.
Copyright © 1999 Indian Express Newspapers (Bombay) Ltd.
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