Prataap Snacks spurts after foray into sweet snacks market

Prataap Snacks rose 4.28% to Rs 1,299 at 11:15 IST on BSE after the company said it has forayed into sweet snacks market.

The announcement was made after market hours yesterday, 26 December 2017.

Meanwhile, the S&P BSE Sensex was up 70.07 points, or 0.21% to 34,080.68.

On the BSE, 5,176 shares were traded in the counter so far, compared with average daily volumes of 7,661 shares in the past two weeks. The stock had hit a high of Rs 1,325 and a low of Rs 1,285.80 so far during the day. The stock hit a record high of Rs 1,404 on 14 December 2017. The stock hit a record low of Rs 1,102 on 31 October 2017.

Prataap Snacks, a leading Indian snack foods company with products spanning across various categories like extruded snacks, chips & namkeen, has entered the category of sweet snacks market through its wholly owned subsidiary with the launch of its new brand 'Rich Feast'. The first product under the new brand is 'Yum Pie', a three layered treat with sponge cake, flavoured jam and chocolate.

The company has set up a fully automated manufacturing plant by its wholly owned subsidiary Pure n Sure Food Bites in Indore to manage the production of Yum-Pie.

Yum Pie is a 100% vegetarian product launched at an affordable price point of Rs 5. The products have been designed and targeted towards kids in the age group of 4-14. Yum Pie is available in orange, strawberry and mixed fruit flavours.

On a consolidated basis, net profit of Prataap Snacks rose 142.40% to Rs 12.92 crore on 12.02% rise in net sales to Rs 262.29 crore in Q2 September 2017 over Q2 September 2016.

Prataap Snacks is a leading Indian snack foods company. It offers multiple variants of products across categories of potato chips, extruded snacks, namkeen (traditional Indian snacks) under the popular and vibrant Yellow Diamond brand.

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