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Jul, 24 2015

Heritage Foods Q1 net profit rises twofold to Rs 11 crore

Total income increased to Rs 578.45 crore in the April- June quarter of the 2015-16 fiscal as against Rs 505.76 crore in the year-ago period, it said in a BSE filing.

Heritage Foods Ltd has reported a twofold jump in consolidated net profit at Rs 10.71 crore in the first quarter of the fiscal on higher sales from dairy and bakery business, reported PTI.

The Hyderabad-based firm had posted a net profit of Rs 5.29 crore in the same quarter last year.

Total income increased to Rs 578.45 crore in the April- June quarter of the 2015-16 fiscal as against Rs 505.76 crore in the year-ago period, it said in a BSE filing.

The income from the dairy business rose to Rs 436.77 crore from Rs 382.64 crore, while the revenue from the retail business rose to Rs 133.93 crore from Rs 117.68 crore in the corresponding period last year.

However, the overall expenses of the company increased to Rs 558.89 crore from Rs 495.84 crore year-ago.

Besides dairy and retail, the company has three other business segments -- bakery, agriculture and renewable energy.

The company's scrip settled at Rs 431.40 on BSE, up 1.34 per cent from the previous close.

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