Riddhi Siddhi net up 103% at Rs 5.4 cr

Starch manufacturer Riddhi Siddhi Gluco Biols (RSGBL) today reported 103 per cent jump in its net profit for the quarter ended September 30, 2006 at Rs 5.4 crore compared with Rs 2.65 crore in the same period previous fiscal. Turnover for the quarter stood at Rs 74.91 crore against Rs 58.81 crore in Q2 of 2005-06, RSGBL said in a release.

For the six months ended September 30, 2006, the company's net profit surged 142 per cent at Rs 10.84 crore compared with Rs 4.1 crore in the corresponding period previous fiscal.

Sales in the half year grew by 25.22 per cent at Rs 146.05 crore from Rs 116.63 crore in the same period of 2005-06, the release said.

The company is planning to invest Rs 110 crore to set up a new maize crushing capacity of 1,65,000 tonnes per annum, the release added.