Vadilal Industries Q2 net profit up 10.7 times at Rs 3 cr

Ice cream and frozen foods company reported 13.21% rise in its net sales at Rs 103 cr

Ahmedabad-based ice cream major Vadilal Industries posted a 10.7 times rise in net profit for the second quarter of 2015-16 fiscal to Rs 3.02 crore.

The ice cream and frozen foods company reported a 13.21% rise in its net sales during the quarter to Rs 103.07 crore, up from Rs 91.04 crore in the same period last fiscal.

For the first half of the year, the company's net profit rose 77.3% to Rs 24.38 crore while its net sales rose 10.36% to Rs 285.6 crore.

Rajesh Gandhi, chairman & managing director of Vadilal Industries Ltd. said, "We have worked on installing the best technologies and machinery in the past couple of years. Our investments are not only paying off but also assisting us for further innovation in product lines. With better-equipped and up-graded production facilities in Gujarat and Uttar Pradesh we will focus on introducing more innovative products for consumers."

Devanshu Gandhi, managing director of Vadilal Industries Ltd. added, "We have started focusing on branded business for the processed food division where margins are better compared to un-branded product marketing.We have expanded our customer base significantly with premium product ranges for the youth as well as kids category."