Insight into LT Foods Financial Performance 📈
If you are interested in understanding the financial health of LT Foods, keep reading to discover the company’s latest financial results. Learn about their net profit, sales, and overall performance for the fiscal year 2023-24.
Consolidated Net Profit Increases by 14% 💰
• LT Foods, the owner of basmati rice brands ‘Daawat’ and ‘Royal’, reported a 14% jump in consolidated net profit at Rs 150.24 crore for the fourth quarter of fiscal 2023-24.
• This is a significant increase compared to the Rs 131.81 crore profit recorded in the same period last year.
• The company’s total income also rose to Rs 2,091.73 crore during the January-March quarter of 2023-24.
Full Year Performance Highlights 🌟
• For the full fiscal year 2023-24, LT Foods reported a 41.35% increase in net profit at Rs 597.59 crore.
• This growth is compared to the net profit of Rs 422.75 crore in the previous year.
• The total income for the year reached Rs 7,822.05 crore, up from Rs 6,978.81 crore in the previous year.
LT Foods Managing Director’s Statement 📊
• Ashwani Arora, the Managing Director of LT Foods, expressed satisfaction with the company’s performance.
• Despite facing external challenges, the company achieved stellar growth in revenue and profitability.
• Arora highlighted the success of the three key segments: Basmati and other specialty rice, organic food and ingredients, and Ready-to-Eat and Ready-to-Cook products, which collectively delivered a 12% year-on-year growth.
Market Reaction 📈
• Following the positive financial results, shares in LT Foods rose by 0.44% to Rs 229.40 on the Bombay Stock Exchange.
• This increase reflects investor confidence in the company’s performance and outlook.
Hot Take: LT Foods Continues to Thrive 🔥
If you are considering investing in LT Foods or simply monitoring their financial performance, the recent results indicate a positive trajectory for the company. With a focus on growth, innovation, and market positioning, LT Foods has demonstrated resilience in a challenging environment. Keep an eye on future developments to see how the company sustains its momentum in the market.
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