Rice exporter Kohinoor Foods (KFL) has reported a sharp jump in its net profit at Rs 212 crore for the quarter ended September 30, on account of sale of part of its business.
The company's net profit stood at mere Rs 3 crore in the corresponding period last year, KFL said in a filing to the BSE.
KFL has made a profit of Rs 337 crore by transferring part of its business during the quarter. It has also invested Rs 42 crore to acquire 15% shareholding in its joint venture company Kohinoor Speciality Foods, it said.
The total sales rose to Rs 278 crore during the concerned quarter from 252 crore in the same period last year, it added.
The company shares were trading 3.8% down at Rs 39.20 at 1500 hours on BSE.
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