Anil Products net up 121%

Anil Products Limited (APL), the flagship company of food and bio-industrial focused Anil group, has recorded a net profit of Rs 8.82 crore for the quarter ended June 30, 2010, a 121 per cent increase over Rs 3.98 crore registered for the corresponding period of last fiscal. The Profit Before Tax (PBT) stands at Rs 11.23 crore for the quarter, as against a profit of Rs 5.35 crore in the corresponding period, with rise of 110.05 per cent. Net sales of the company rose to Rs 106.19 crore, a 24.28 per cent increase from Rs 85.44 crore in the previous year.

 

According to Amol Sheth, managing director of APL, “The increase in sales and profits is the result of successful implementation of business strategy wherein APL has shifted its focus to value added products and a solutions oriented approach, which is reflected in the increase in sales realization.”

For the coming quarter, the company plans to increase its global presence through opening dedicated offices in Middle East and European countries. “This will allow us to work more closely with our foreign customers and help us gain market share in Middle East North Africa (MENA) region and Europe,” Sheth added.