Vadilal Industries' Q2 net rises to Rs 3.02 cr

Leading ice cream and frozen foods major, Vadilal Industries Ltd, has reported a 946 per cent jump in net profit at Rs 3.02 crore for the second quarter ended September 30, 2015.
Its net profit in Q2 last year stood at Rs. 0.28 crore.
Net sales in Q2 of FY 2015-16 were higher by 13.21 per cent to Rs 103.07 crore over previous fiscal's Q2 net sales of Rs 91.04 crore, a company statement said here.
Earnings per Share (EPS) for Q2 FY 16 stood at Rs. 4.20 (face value of Rs. 10 per share).
For the six months ended September 2015, company reported a net profit of Rs.24.38 crore against a net profit of Rs. 13.74 crore in the corresponding period last year, growth of 77.37 pe cent. Net sales in first half of FY 2015-16 at Rs 285.47 crore were higher by 10.36 per cent compared to Rs 258.66 crore.

Commenting on the financial performance of the company, Rajesh Gandhi, Chairman & Managing Director of Vadilal Industries said, "We have worked on installing the new 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.
"We are also focusing on further expanding our marketing and distribution network so as to reach out to many more consumers in our target markets," he said.