Basmati rice exporter KRBL Ltd today reported 14 per cent increase in consolidated net profit at Rs 98.41 crore for the second quarter ended September 30, 2016.
Its net profit stood at Rs 86.49 crore in the year-ago period, the company said in a regulatory filing.
However, income from operations fell to Rs 732.98 crore during July-September quarter from Rs 918.76 crore in the corresponding period of the previous year.
"Our topline has declined as export markets were slow. However, our profit has increased on improvement in prices and margins," KRBL Managing Director Anil Mittal said.
During last fiscal, the net profit rose to Rs 337.06 crore while income from operations increased to Rs 3,428.13 crore.
The company sells basmati rice under the India Gate brand and has a strong presence both in India and the markets abroad. The company has the capacity to process about 1.5 million tonnes of paddy per annum.
About APEDA
The Agricultural and Processed Food Products Export
Development Authority (APEDA) was established by the Government of India under the Agricultural and Processed Food Products Export Development Authority Act passed by the Parliament in December, 1985. APEDA links Indian exporters to global markets for the promotion of large range of processed food products, besides providing comprehensive export-oriented services.
About KRBL
Background: KRBL has its genesis as a 127-year-old firm engaged in the business of grain marketing and agro processing, reinforcing its long-standing experience and expertise in the industry. Incorporated in 1993 with the objective of processing paddy, the Company, promoted by Mr. Anil Kumar Mittal, Mr Arun Kumar Gupta and Mr Anoop Kumar Gupta, is today synonymous with Basmati rice the world over, and has bestowed the Indian Basmati rice with global glory.
Offices & Units: The Company has a Registered office at Lahori Gate, Delhi and Corporate office at Sector 62, Noida, UP. The Company has its Manufacturing Units in Gautam Budh Nagar, UP and Dhuri, Punjab for rice processing. The Company has also its Grading, Sorting and Packaging units in Sonipat, Haryana and Alipur, Delhi.
Products: Company is a global branded food specialty company marketing basmati and non-basmati rice in its brands along with seeds such as quinoa and other by-products such as rice bran oil, de-oiled cake and furfural etc. The company is also engaged in power generation from solar power plant, wind turbine and a husk-based power plant.
Star Brands: India Gate is the flagship brand of the Company produced from the best paddy sowed from the most fertile soil in India. Over the years, the Company has also developed other popular rice brands such as Indian Farm, Aarti Unity, BAB AL Hind, Doon, Nur Jahan, Bemisal etc. To meet the needs of different categories of consumers across regions.
Production Capacity: It is a leading integrated industry player with business philosophy aligned with its quality rice. Its rice milling capacity of 195 MT/hour, the largest in the word, lends it a distinctive edge, ranking it at the top of the industry. KRBL Limited has the capacity to handle 20% of total Basmati production of India.
Distribution Network: KRBL Limited is a global rice entity having a multi-brand presence both in the domestic as well as in overseas market. In Domestic, it Covers Market in all 29 States and 7 Union Territories. KRBL Limited is a leading exports to 75 countries across the world, the maximum global reach as compared to any FMCG player.
For More Information, Visit http://www.Krblrice.Com. Media Contact Details
Kirti Pathak, Genesis Burson-Marsteller, +91-9643822320, Kirti.Pathak@bm.Com.
