Kwality Q3 net profit up 7 per cent at Rs 45 crore

Dairy company Kwality Ltd on Tuesday reported an over 7 per cent growth in standalone net profit at Rs 45.09 crore during the third quarter of 2016-17 financial year on higher sales.

The company had clocked net profit of Rs 42.07 crore in October-December quarter of last financial year.

Net income increased marginally to Rs 1,583.02 crore during the quarter under review, from Rs 1,540.27 crore in the year-ago period, the company said in a BSE filing.

Expenses remained higher at Rs 1,478.40 crore as against Rs 1,440 crore in the said period.

The company is strategically shifting its business model from B2B to B2C by adopting a structured holistic approach.

Recently, the company commenced commercial production of value-added products like flavoured milk at its new unit in Haryana. The unit has milk handling capacity of 0.9 million litres per day.

The Delhi-based Kwality Ltd's milk processing units are located in Uttar Pradesh, Haryana and Rajasthan.

The company sells dairy products such as milk (bulk, pouched and tetra-packs), ghee, curd and skimmed milk powder.

Shares of the company were trading 1.63 per cent up at Rs 140.60 on BSE.