FMCG company ADF Foods Ltd announced on Tuesday a remarkable 93 percent surge in its consolidated profit after tax (PAT) for the June quarter, reaching INR 14.7 crore. This impressive growth was driven by higher revenues, as compared to the same period in the previous year. According to the company’s statement, their PAT stood at INR 7.6 crore during the corresponding period last year.
During the April-June period of FY23, the company witnessed a significant 15.7 percent increase in its revenue from operations, soaring to INR 112.4 crore compared to the previous figure of INR 97.2 crore.
ADF Foods Chairman & Managing Director Bimal Thakkar said, “We have delivered yet another remarkable first quarter result posting higher revenues and improving our operational metrics year-on-year. We try to consistently introduce new delectables in our product portfolio since we serve a wide palate of global consumers.”
The company will continue to expand its sales and distribution in India and abroad, he added.
Providing a business update, ADF Foods announced that its greenfield expansion strategy for augmenting frozen food capacity is scheduled for completion within the upcoming 12-15 months.
ADF Foods, headquartered in Mumbai, specializes in a range of products such as frozen foods, ready-to-eat meals, and ready-to-cook (RTC) items. These offerings encompass sauces, pickles, edible pastes, and dips, catering to a diverse market presence spanning across more than 50 regions.
Shares of the company settled 3.01 per cent lower at INR 1,069.40 apiece on the BSE.
