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Manpasand Beverages reports 1.30 percent rise in net profit at Rs 36.37 crore

Total revenue stood at Rs 340.06 crore in the reported quarter. It was Rs 392.94 crore in April-June 2017, the company said in a BSE filing.


PTI Last Updated at 02 Aug 2018, 17:08 IST India

Fruit drinks manufacturer Manpasand Beverages today reported 1.30 percent rise in net profit at Rs 36.37 crore for the quarter ended June 30, 2018.

The company had posted a net profit of Rs 35.9 crore during the year-ago period.

Total revenue stood at Rs 340.06 crore in the reported quarter. It was Rs 392.94 crore in April-June 2017, the company said in a BSE filing.

It said revenue from operations is not comparable with the corresponding year-ago quarter due to the implementation of GST from July 1, 2017.

"Issues unrelated to operations caused some spill-over and impacted our business in June. Despite this challenge, we managed to perform relatively well and kept ourselves focussed on expansion and product development. Operations are now back to normal and we continue to be confident about our growth plans," Chairman and MD Dhirendra Singh said.

In May this year, the company's statutory auditor Deloitte Haskins & Sells resigned ahead of a board meeting scheduled for May 30 for consideration of financial results.

Deloitte Haskins & Sells had said Manpasand Beverages failed to provide them with "significant information" on the financial results for 2017-18.

Shares of Manpasand Beverages settled 4.98 percent higher at Rs 132.75 apiece on BSE.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)


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