ADF Foods' net income from operations up 31% to Rs 115.29 cr

ADF Foods Limited, a leader in the Ethnic Food business, has declared its results for the Quarter ended 31st December 2011. The company while announcing its results for the third quarter of 2012 has stated that it’s consolidated Income from Operations has increased by 31 percent to Rs. 115.29 crore from Rs. 88.32 crore in the corresponding period.

On standalone basis, Profit After Tax of Rs. 9.09 crore and EBITDA reached Rs. 18.13 crore in Q3 2012 for the period ending 31st December 2011.

The US acquisition has now turned around from November and going forward this company will start contributing as well. The domestic market roll-out of SOUL has started and products are already available in 10 cities.

Commenting on the company’s performance, Bimal Thakkar, Managing Director, ADF Foods Ltd. said, “Despite high input costs, the company has been able to maintain its gross margins. The turning around of US operations in one year of acquisition shows strength and capabilities of the management.”