ADF Foods Q1 net profit grows 93 pc to Rs 14.7 cr

FMCG company ADF Foods Ltd on Tuesday reported a 93 per cent rise in its consolidated profit after tax (PAT) at Rs 14.7 crore in the June quarter on account of higher revenues.

It had reported a PAT of Rs 7.6 crore in the year-ago period, the company said in a statement.

The company's revenue from operations surged 15.7 per cent to Rs 112.4 crore from Rs 97.2 crore in the April-June period of FY23.

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.

On a business update, ADF Foods said its greenfield expansion plan for frozen food capacity is to be completed in the next 12-15 months.

Mumbai-based ADF Foods offers frozen foods, ready-to-eat and ready-to-cook (RTC) items, including sauces, pickles, edible pastes and dips in over 50 markets.

Shares of the company settled 3.01 per cent lower at Rs 1,069.40 apiece on the BSE.

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