Ruchi Soya Q3 Net up 33.3% at Rs 36.54 crore

Edible oil company Ruchi Soya Industries today reported a 33.35% increase in standalone net profit at Rs 36.54 crore for the third quarter ended December 31, 2014 due to lower expenses.

The company's net profit stood at Rs 27.4 crore for the corresponding period a year ago, Ruchi Soya said in a BSE filing.

However, Ruchi Soya's net sales declined by 19.75% to Rs 5,691.75 crore in the third quarter from Rs 7,092.74 crore in the same period last year.

Its overall expenses stood at Rs 5,718.81 crore, down 19.05% as against Rs 7,064.99 crore in the same period last year.

"We are making consistent efforts to keep costs under check and deal in newer segments within the agro based product categories to step up our export sales...We will continue to scale up the branded sales volumes and reduce bulk sales to improve the margins on a sustained basis, in the years ahead," Ruchi Soya Managing Director Dinesh Shahra said.

The company's shares were trading at Rs 35.95 apiece, up 1.13% from their previous close on the BSE.