Manpasand posts Rs 5 cr Q3 net against Rs 2.6 cr loss a year ago

Net sales for the quarter up 76% at Rs 90 cr, profit for nine months to December doubles to Rs 25 cr

Vadodara-based Manpasand Beverages Ltd has reported a net profit of Rs 4.92 crore for the third quarter ended December 31, 2015 as against net loss of Rs 2.59 crore in the corresponding period last year.

Net sales for Q3 of FY16 at Rs 89.91 crore were higher by 76 per cent over previous fiscal's same quarter net sales of Rs 51.05 crore.

For the nine months ended December 2015, company reported a net profit of Rs. 25.01 crore against a net profit of Rs. 12.64 crore in the corresponding period last year, a growth of 97.9 per cent.

Net sales in the nine months of FY 2015-16 at Rs 326.32 crore were higher by 36.5 per cent compared to Rs. 239.10 crore in the same period of previous fiscal.

Dhirendra Singh, chairman and managing director, Manpasand Beverages said, "Expansion plans including setting up of a new manufacturing facility in Haryana and modernisation of Vadodara and Varanasi facilities are completed. During the quarter, the company entered into a tie up with German wholesale retail and trading major, METRO Cash & Carry, and is exploring more such tie-ups to increase its urban market penetration. Manpasand also became a completely debt-free company by pre-paying its entire outstanding debt from the IPO proceeds and internal accruals."