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With its investments paying off in innovative products, Ahmedabad-based Vadilal Industries has registered a 59% growth in its net profit for the quarter ended June, at Rs 21.36 crore, against a net profit of Rs 13.45 crore in the corresponding period last financial year.
The company registered a growth of 9% in its net sales which stood at Rs 182 crore, up from Rs 168 crore in the corresponding quarter last year.
Rajesh Gandhi, chairman and managing director, Vadilal Industries, said, "Our investments are not only paying off but also assisting us for further innovation in product lines. With better-equipped and up-graded production facilities in Gujarat and Uttar Pradesh we will focus on introducing more innovative products for consumers. We are also focusing on further expanding our marketing and distribution network so as to reach out to many more consumers in our target markets."
While earnings per share stood at Rs 29.72, against Rs 18.72 for the said quarter in the financial year 2014-15, the company's earnings before interest, tax, depreciation and amortisation margin was 23%. On Friday, Vadilal Industries' shares rose by Rs 54.75 per share or 8.08% to close at Rs 732 per share on the BSE.
