Manpasand Beverages posts 392% jump in Q2 net

Vadodara-based leading fruit juice player, Manpasand Beverages Ltd registered a whopping 392.13% growth in its net profit for the second quarter ended September 30, 2015. The company posted a net profit of Rs 4.38 crore for Q2 of fiscal 2015-16 as against a net profit of Rs 0.88 crore in Q2 in previous fiscal.

Net income from operations for second quarter of fiscal 2015-16 also rose by 31.79% to stand at Rs. 81.51 crore. As against this, the company had registered a net income from operations of Rs. 61.85 crore for the second quarter of previous fiscal 2014-15.

According to Dhirendra Singh, Chairman & MD of Manpasand Beverages Ltd., the company's expansion plans including setting up of a new manufacturing in Haryana and modernisation of Vadodara and Varanasi facilities are on track, even as it has begun tapping the urban markets more aggressively.

Recently, Manpasand entered into a tie up with ice cream and food retailing major Havmor Ice Cream Ltd even as it explores more such tie-ups to increase our urban market penetration.

"We are following a well defined two-pronged strategy for fast-paced growth - while we continue to further increase our significant presence in rural and semi-rural markets, we have also started to aggressively tap the urban markets where our presence was minimal till recently. Manpasand's flagship brand Mango Sip's sales continue to grow at a fast pace and our new urban market focused Fruits Up brand is getting a very good response from consumers," Singh said.