Revenue for the quarter under review stood at Rs 340.07 crore, an increase of 9.24 percent as compared to Rs 311.30 crore it posted during the corresponding quarter of previous fiscal.
Manpasand Beverages has posted a 1.32 percent gain in net profit at Rs 36.38 cr for the first quarter ended June 30, 2018, as against net profit of Rs 35.91 crore in the same period of the previous fiscal year.
Revenue for the quarter under review stood at Rs 340.07 crore, an increase of 9.24 percent as compared to Rs 311.30 crore it posted during the corresponding quarter of previous fiscal. Earnings Per Share for the first quarter of the financial year 2019 was up 1.29 percent at Rs 3.18 per share, it said during its earnings announcement.
According to the company, the rise in net profit is not commensurate to rise in revenue mainly due to the reduction in other income and rise of depreciation (Non-Cash Item). The company is showing stable QoQ performance and is moving ahead promisingly, it said.
“Issues unrelated to operations caused some spillover and impacted our business in the month of June. Despite this challenge, we managed to perform relatively well and kept ourselves focused on expansion and product development. Operations are now back to normal and we continue to be confident about our growth plans," said Dhirendra Singh, Chairman & MD of Manpasand Beverages.
"Manpasand remains confident about the next fiscal year. Augmenting our presence through Quick Service Restaurants (QSRs), food chains, and retailers to develop stronger brand recognition for our products among consumers will continue to be the main driver of the company’s growth. The company will take this symbiotic growth approach in the coming days too. Product innovation and enhancing the distribution network will be the primary focus areas in our endeavor to create a point of differentiation amongst our local and global competitors," Singh further said.
Homegrown fruit drink maker is planning to expand other vertical with new product range launch subsuming milk-based drinks, fruit-based sugar-free drinks, glucose drinks and protein-based drinks to bring overall revenues on rise and will provide a significant boost in our growth journey across local and global markets.