Agro Tech Foods Limited (ATFL), an affiliate of ConAgra Foods, reported a 20.29 per cent increase in net profit to Rs 3.26 crore for the quarter ended June 30, 2009, as compared with Rs 2.71 crore in the corresponding period last year. Revenues during the quarter declined 34.08 per cent to Rs 145.27 crore from Rs 220.40 crore.
According to ATFL president and chief operating officer, the net profit improved as the gross margins had increased by about 34 per cent. The company strengthened its branded foods business and this improved the margins.
The improved margins enabled the company to introduce a new variant, Sundrop Goldlite, and aided in increase in town coverage and supported the expansion of distribution network of foods portfolio, according to a release.
The company's stock ended the trade on the BSE at Rs 150.10, up 90 paise from the previous close of Rs 149.20.
