Leading rice company KRBL Ltd, which sells under the India Gate brand, today reported a 32 per cent increase in consolidated net profit at Rs 112.85 crore for the quarter ended March on better margins.
The company's net profit stood at Rs 85.67 crore in the year-ago period, it said in a regulatory filing.
Income from operations fell to Rs 801.94 crore during the fourth quarter of last fiscal from Rs 923.30 crore in the corresponding period of the previous year.
During the entire last fiscal, the company's net profit rose to Rs 337.06 crore from Rs 321.73 crore in the previous fiscal.
Income from operations rose to Rs 3,428.13 crore in the 2015-16 fiscal from Rs 3,197.20 crore in the previous year.
When contacted, KRBL Ltd CMD Anil Kumar Mittal said the company's profit rose in January-March quarter on the back of better margins, while sales fell as price of basmati rice have fallen by 40 per cent in last one year.
"Our net profit and turnover have increased in the full fiscal," he added.
In volume terms, he said the company sold 2,43,000 tonnes in overseas and 3,50,000 tonnes in domestic market.
