Hyderabad-based Heritage Foods Limited has reported a 41 per cent increase in consolidated net profit at Rs 18.04 crore for the quarter ended March, 2016 as compared to Rs 12.74 crore in the corresponding quarter previous year.
The company's improved profitability comes from the dairy business, which contributed little over 70 per cent to the top line in the quarter under review.
Heritage Foods' consolidated income grew 16.30 per cent to Rs 632.70 crore in the quarter ended March, 2016 from Rs 544.01 crore in the year ago period.
Net profit for the full year ended March, 2016 stood at Rs 55.42 crore, an increase of 95.47 per cent over Rs 28.35 crore in the previous year. Total income from operations rose by 14.84 per cent to Rs 2,380.58 crore from Rs 2072.96 crore in the previous year.
The board of directors of the company has recommended a dividend of Rs 3 per share of the face value of Rs 10 each subject to the approval of the shareholders.
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.