Dairy firm Kwality Ltd today reported 21 per cent increase in net profit at Rs 34.10 crore for the quarter ended June on higher sales.
Its net profit stood at Rs 28.21 crore in the year-ago period.
Net sales rose by 27 per cent to Rs 1,326.22 crore in the first quarter of this fiscal against Rs 1,042.55 crore in the corresponding quarter of last year, Kwality said in a statement.
Commenting on the results, Kwality Executive Director Sidhant Gupta said: "The results are as expected and broadly in sync with our objectives and strategies. With factors such as rising disposable income, migration of people to packed milk structural changes in food habits coupled with better margins in the value added product segment has helped us to post good numbers."
Gupta said the company is focusing on the value added products and this segment would be a big contributor to its product basket in the times to come.
With six milk processing units in Uttar Pradesh, Haryana and Rajasthan, Kwality caters to retail customers under brand 'Dairy Best' and supplies dairy products to institutional customers.
The company' share rose by 1.34 per cent to close at Rs 49.05 apiece on BSE.
