LT Foods net profit jumps 44 pc to Rs 69 cr in December quarter

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January 29, 2021 2:30 PM

Total income rose to Rs 1,084.74 crore in the third quarter December 2020, from Rs 997.60 crore in the corresponding period of the previous year.

LT Foods LtdKey markets for LT Foods' brands, besides India, cover the US, the UK, Europe, Middle East and Far East.

LT Foods Ltd, which is into basmati and other specialty rice, on Friday reported a 44 per cent jump in its consolidated net profit to Rs 69.23 crore for the quarter ended December 31, on higher income. Its net profit had stood at Rs 48.18 crore in the year-ago period. Total income rose to Rs 1,084.74 crore in the third quarter December 2020, from Rs 997.60 crore in the corresponding period of the previous year.

LT Foods Managing Director and CEO Ashwani Arora said, “We achieved a healthy all-round performance aided by our strong brand presence across geographies, wide distribution network and robust supply chain.”

The company remains committed towards creating a progressive, sustainable, profitable and growing business to build value for stakeholders with strategic focus on growth, margin expansion and strengthening of financial metrics, he said in a statement.

The firm has five processing facilities in India, two packaging units and one ready-to-heat facility in the US and one processing facility in Rotterdam. Key markets for LT Foods’ brands, besides India, cover the US, the UK, Europe, Middle East and Far East.

In rice, the company’s brands include DAAWAT, Royal, Heritage, Gold Seal Indus Valley, 817 Elephant, Devaaya and Rozana. The organic food product range includes rice, soya, pulses, oil seeds, cereal grains, spices and nuts. The company is also into rice-based convenience products that include sauté sauces, rice-based premium snacks and staples.

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