Vadilal Industries' Q3 net loss widens by 60%

Standalone income grew marginally by only 1%

Ahmedabad-based Vadilal Industries Ltd's standalone net loss for the third quarter ended December 31, 2012 widened by close to 60% at Rs 5.27 crore, which stood at Rs 3.30 crore for the corresponding period last year.

The ice-cream, frozen food and food processing company's standalone net income also grew marginally by 1%. Vadilal posted a net income for the current fiscal's third quarter at Rs 51.72 crore as compared to Rs 51.18 crore for the same period last year.

However, according to Vadilal, "As the major business of the company i.e. ice-cream and processed food products is of a seasonal nature, sales as well as profits during April to June period are usually higher than remaining period."

Further segment-wise, Vadilal's ice-cream division registered a net loss of Rs 1.95 crore in Q3 of FY '13 as against a net profit of Rs 0.57 crore for the corresponding period last year.