Edible oil company Ruchi Soya Industries today reported multi-fold jump in its consolidated net profit at Rs 80.02 crore for the year 2014-15, on account of increase in income.
The company had reported a net profit of Rs 16 lakh in FY 2013-14.
Total income of the company during 2014-15 rose to Rs 31,562 crore from Rs 28,499 crore in 2013-14.
"The low crop size of soy bean during the year accompanied by a good crop production in the international markets have resulted in lack of commercial viability for processing and consequently impacted the capacity utilisation of soya procssing industry in India," Ruchi Soya Founder and Managing Director Dinesh Sahara said.
Sahara added that with the expected stablisation of commodity prices in near future and better utilisation of production capacities, we expect the operating performance to improve significantly in the current year.
