Temptation Foods Q4 net rises 843%

BS Reporter / Mumbai April 10, 2008

Processed foods company Temptation Foods (TFL) today posted a growth in net profit of 843.1 per cent from Rs 1.4 crore in fourth quarter ended March 2007 to Rs 13.1 crore in the fourth quarter this year. Its total income went up from Rs 11.4 crore in the previous quarter to Rs 255 crore.

Vinit Kumar, Chairman and Managing Director, TFL said, “Temptation Foods continues to deliver strong sales and profitability growth. Our dominating presence in the processed foods market segment has enabled us to maintain our momentum. We are exploring opportunities of both strengthening our presence across India and minimising our input costs. We have acquired three businesses, including two brands during the year and envisage growth in the future coming through the inorganic route. I remain confident of our ability to deliver strong value going forward.”

Its net profit for the year ended March 2008 grew by 313.3 per cent from Rs 5.7 crore last financial year to Rs 23.8 crore this year. Its total income grew 731.5 per cent from Rs 39.6 crore to Rs 329.7 crore. The company has earmarked $200 million to fund its capacity expansion and acquisition plans.