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.
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app