INDIA - Delhi based dairy producer, Kwality Dairy (India) Ltd has reported a 27 per cent increase in net sales at $216.70 million for the first quarter(Q1) ended 30 June, 2014 (April-June).
During the same period last year, the company’s net sales were recorded at were $170.77 million.
Attributing the sales growth, the company said, factors such as rising disposable incomes, the migration of people to packed milk, structural changes in food habits and better margins in the value-added product segment have helped the company to post good numbers.
Speaking on the Q1 result, Sidhant Gupta, the company’s executive director said: “The last quarter was in line with our growth agenda, and we are satisfied to register a growth in sales of 27.21 per cent in this quarter as compared to the first quarter of the previous fiscal.”
The company’s profit during the period stood was up by 20.88 per cent at $5.56 million, as compared to $4.57 million earned during the quarter ended June 30, 2013.
Profit before tax (PBT) during the Q1 earned by the company was $6.53 million, against $5.26 million posted during Q1 of last fiscal year.
Mr Gupta said that the company is currently focusing on value-added products, and are confident that this segment would be a big contributor to our product basket in the times to come.