LT Foods Ltd on Thursday reported a 52.07% rise in consolidated net profit, amounting to INR 152.64 crore for the third quarter ending December 2023.
According to a regulatory filing by LT Foods, the owner of basmati rice brands Daawat and Royal, it reported a net profit of INR 100.37 crore in the corresponding period of the previous year.
During the quarter under review, revenue from operations increased by 9.17%, reaching INR 1,941.72 crore, compared to INR 1,778.47 crore in the corresponding period last year.
The company’s total expenses rose by 5.46%, reaching INR 1,757.67 crore.
The total revenue stood at INR 1,949.68 crore, reflecting a growth of 8.8 percent compared to the same quarter of the previous year.
Meanwhile, in a meeting held on Thursday, the board of LT Foods also granted approval for the issuance and listing of commercial papers amounting to INR 500 crore.
On Thursday, LT Foods’ shares concluded at INR 196.05 apiece on the BSE, reflecting a 4.01% decline from the previous closing price.