Kwality Q3 net profit rises 3.5% to Rs 37.4 cr

The dairy firm net profit stood at Rs 36.12 cr in the year ago period, it said in a regulatory filing

Dairy firm Kwality Ltd on Saturday reported a 3.5 per cent increase in its net profit at Rs 37.40 crore for the quarter ended December 31.

Its net profit stood at Rs 36.12 crore in the year ago period, Kwality Ltd said in a regulatory filing.

Net sales rose to Rs 1,441.22 crore in the third quarter of this fiscal from Rs 1,286.11 crore in the corresponding period of the previous year.

The company's tax expense grew to Rs 15.51 crore in the October-December period of 2015-16 fiscal from Rs 8.09 crore in the year ago period.

"We have recorded another quarter of good growth, which is in line with our expectations. We can attribute this growth to our focus towards strengthening the retail segment, which has helped us in registering these strong numbers," Kwality Ltd MD Sanjay Dhingra said.

"With the signing of Akshay Kumar as our brand ambassador and extension of our Palwal plant, we expect the momentum to continue and grow in the coming quarters," he added.

Delhi-based Kwality Ltd has six milk processing units in Uttar Pradesh, Haryana and Rajasthan.

The company sells dairy products such as milk (bulk pouched and tetra-packs), ghee, curd and skimmed milk powder.

It is in the process of launching value-added products such as flavoured milk, tetra-pack milk, numerous variants of cheese and table butter.