New Delhi: Packaged foods maker reported 44% increase in net profit at Rs 69 crore for the third quarter ending December 2020, overcoming Covid-related disruptions.
The Delhi-based company reported revenue of Rs 1,085 crore, 9% higher than Rs 998 crore in the year-ago quarter.
LT Foods managing director Ashwani Arora attributed the numbers to strong brand presence, wide distribution network and robust supply chain, in an earnings statement. “We remain committed towards building value for our stakeholders with strategic focus on growth, margin expansion and strengthening of financial metrics,” he said.
The company said its basmati and specialty rice business grew 15% in the nine month period of FY21.
LT Foods generated cash flows of Rs 279 crore that led to decline in overall debt and improvement in its debt-equity ratio from 1.02 to 0.75, the company said.
