Ahmedabad

Gujarat based India’s second largest ice cream brand and leading frozen food producer,Vadilal has reported an overwhelming 58.74% jump in its net profit at Rs 21.36 crore for the first quarter ended June 30 this year as against Rs 13.45 crore in Q1 of previous year.

Net sales of the Vadilal Industries Ltd.in Q1 of FY 2015-16 were also higher by 8.82% to Rs 182.40 crore over previous fiscal’s Q1 net sales of Rs 167.61 crore.

Earnings per Share for the quarter stood at Rs 29.72 compared to Rs 18.72 for the same period last year.

Commenting on the financial performance of the company, Chairman and Managing Director of the company, Mr. Rajesh Gandhi said, “We have worked on installing the best technologies and machinery in the past couple of years. Our investments are not only paying off but also assisting us for further innovation in product lines. With better-equipped and up-graded production facilities in Gujarat and Uttar Pradesh we will focus on introducing more innovative products for consumers. We are also focusing on further expanding our marketing and distribution network so as to reach out to many more consumers in our target markets.”

Mr. Devanshu Gandhi, Managing Director of Vadilal Industries Ltd. added “We have started focusing on branded business for the processed food division where margins are better compared to un-branded product marketing. We are also looking at various options whereby we can increase the product portfolio. We have expanded our customer base significantly with premium product ranges for the youth as well as kids category. The response to the premium products has been overwhelming.”

– DeshGujarat