BWI: LT Foods Limited Announces Unaudited Second Quarter and First Half Results for Fiscal 2011

Press release from Business Wire India
Source: L T FOODS LTD
Thursday, November 18, 2010 05:20 PM IST (11:50 AM GMT)
Editors: General: Consumer interest, Food & drink, People; Business: Agriculture, Business services, Financial Analyst, Household & personal care products & services, Retailers, Stock exchanges
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LT Foods Limited Announces Unaudited Second Quarter and First Half Results for Fiscal 2011
. Q2 FY2011 Net Revenue increase by 12% Y-O-Y to Rs. 255.89CR . Q2 FY2011 Net Profit increase by 57.22% Y-O-Y to Rs. 1.97CR . Q2 Profit Before Tax increases by 408.62% Y-O-Y to Rs. 5.37 CR

New Delhi, Delhi, India, Thursday, November 18, 2010 -- (Business Wire India) -- Performance Highlights for the Second Quarter ended September 30th and First Half FY2011

Q2 ENDED SEPTEMBER 30TH FY2011 FINANCIAL HIGHLIGHTS

Q2 FY2011 FINANCIAL HIGHLIGHTS
. Q2 FY2011 Net Revenue of Rs. 255.89 Crore
. Increased by 12% as compared with Q2 FY2010 (Rs. 228.35 Crore)

Q2 FY2011 EBITDA of Rs. 20 Crore
. Increased by 2.44% compared with Q2 FY2010 (Rs. 19.56 Crore)

Q2 FY2011 Net Profit of Rs. 1.97 Crore
. Increased by 57.22% compared with Q2 FY2010 (Rs. 1.25 Crore)


FIRST HALF FY2011 FINANCIAL HIGHLIGHTS

. H1 FY2011 Net Revenue of Rs. 526.33 Crore
o Down by 1.82% as compared with H1 FY2010 (Rs. 536 Crore)

. H1 FY2011 EBITDA of Rs. 49.45 Crore
o Down by 21.81% compared with H1 FY2010 (Rs. 63.24 Crore)

. H1 FY2011 Net Profit of Rs. 9.41 Crore
o Down by 47.34% compared with H1 FY2010 (Rs. 17.87 Crore

LT Foods Limited, formerly known as LT Overseas, leading processor and exporter of packaged rice under the flagship brand "Daawat", announces its Unaudited Second Quarter and First Half Results for Fiscal 2011.

Commenting on the result, Mr. Vijay Arora, CMD, LT Food Ltd said: 'LT Foods had an impressive quarter, as demonstrated by our growth in volumes and profitability. However, we have seen a dip in H1 FY2011. This has been due to fall in rice demand in European countries, for which the whole sector has been affected. Still we have performed better in comparison to other industry players in this challenging environment as our consumer pack sale in Domestic market has gone up by 20%".

He further added "Moving with strategic intent and taking initiatives at different level, we are focusing on branded and more stable segments. We are diversifying and making investments in new avenues - Bio mass, Silos, putting up a new wheat processing facility by leveraging our strength of procurement in Bhopal, also investing on developing new packaging and on brands. Adding efficiencies in the system with an aim to expand further by strengthening the business through talent hiring and hiring FMCG experts on the Board.

To view operational highlights kindly click on the link given below :
Operational Highlights

About Company

LT Foods Limited, formerly known as LT Overseas is the leading processor and exporter of packaged rice under the flagship brand "Daawat". Launched in 1965, LT Foods today has a turnover of 1000 crores and has more than 6 subsidiaries which are vertically integrated. LT Foods is listed on Bombay Stock Exchange, 532783.

Today, LT Foods Ltd. has worldwide presence with well known brands such as Daawat (one of the top 3 brands in India), Royal, Devaaya and Heritage. The company's product portfolio extends to include brown rice, white rice, steamed rice, parboiled rice and organic rice.

With a very strong distribution network of more than a 100 in each state across India, the Daawat brand caters to seven channels Modern Retail, HoReCA, Rice corners, Alliances, Whole sellers, Distributors and Retailers - with specific offerings through a range of sub-brands to cater the need of all the channels.

LT Foods Ltd. has also made inroads into more than 50 countries across the globe including markets like USA, Canada, UK, Germany, France, Spain, Middle East, South Africa, Mauritius, Australia and New Zealand.

LT Foods Limited acquired Kusha, Inc. in December, 2007 to become a leader in the US rice market and with this acquisition LT Foods Ltd. has more than 50% of branded segment market in the US as of today.

For picture(s)/data to illustrate this release click below:

http://www.BusinessWireIndia.com/attachments/OPERATIONAL HIGHLIGHTS.pdf
OPERATIONAL HIGHLIGHTS.pdf


CONTACT DETAILS
Varun Chopra, Sampark Public Relations, +91 9811241427 / (11) 41731526, varun.chopra@sampark.com
Nandita Parashar, Sampark Public Relations, +91 9818995622 / (11) 41731526, nandita.parashar@sampark.com

KEYWORDS
CONSUMER, FOOD, PEOPLE, AGRICULTURE, BUSINESS SERVICES, Financial Analyst, HOUSEHOLD, RETAIL, STOCK EXCHANGES

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