Temptation Q4 net up to Rs 13 cr

Processed foods company Temptation Foods (TFL) posted a 843.1 per cent growth in net profit to Rs 13.1 crore in the quarter ended March 2008 from Rs 1.4 crore in the quarter ended March 2007.

Its total income during the quarter rose to to Rs 255 crore from Rs 11.4 crore in the corresponding quarter last year.

Vinit Kumar, chairman and managing director, TFL said, "Temptation Foods continues to deliver strong growth in sales and profitability. Our dominating presence in the processed foods market segment has enabled us to maintain our momentum. We are exploring opportunities of both strengthening our presence across India and minimising our input costs. We have acquired three businesses, including two brands during the year and envisage future growth through the inorganic route. I remain confident of our ability to deliver strong value going forward."

The company's net profit for the year ended March 2008 grew by 313.3 per cent to Rs 23.8 crore from Rs 5.7 crore in the last financial year. Its total income grew by 731.5 per cent to Rs 329.7 crore from Rs 39.6 crore in the previous year.

The company has earmarked $200 million to fund its capacity expansion and acquisition plans.