From correspondents in Maharashtra, India, 01:40 PM IST
Sanwaria Agro Oils (BSE code 519260), a leading soya bean processors and producers of refined soya bean oil has reported a 139.3 % increase in net profit at Rs.2081.37 lakhs for the first quarter ended 30th June 2008 as compared to Rs.869.81 lakhs during the first quarter ended 30th June 2007.
The company has reported net sales at Rs 274.34 crore during the first quarter ended 30 June 2008, as against the net sales of Rs 148.97 crore during the previous corresponding quarter ended June 30 2007.
The Reserve excluding revaluation reserve stood at 31st March 2008 of Rs. 8089.89 lakhs.
On paid up capital of Rs 870.13 lakhs, the earnings per share stands at Rs 2.39 for the first quarter ended 30 June 2008 against Rs. 0.99 for corresponding period of last F.Y.
Director of the company, Mr. Anil Agrawal said “Sanwaria Agro is focusing on its premium soyoil brands/value added products to contribute 10-15% of sales in the next one to two years from 3-4% currently. The spread of consumer retail chains across the country is helping the company in establishing its reach in more states. ”
Financial highlights for the year 2007-08
The company has achieved net sales of Rs 938 crore for the year ended 31st March 2008 as against net sales of Rs 445 crore during the previous year ended 31st March 2007.
The company’s net profit increased by 81.39 per cent to Rs 54 crore for the 12 months ended March 31st, 2008 as compared to Rs 12 crore during the year ended March 31st, 2007.
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