Financial Daily from THE HINDU group of publications
Friday, Apr 30, 2004
Financial Daily from THE HINDU group of publications Friday, Apr 30, 2004 |
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Corporate Results
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Foods & Food Processing Satnam Overseas PAT up 49 pc Our Bureau
NEW DELHI: Satnam Overseas Ltd has reported a 49 per cent increase in its profit after tax for fiscal 2003-04 to Rs 14.1 crore as against Rs 9.49 crore recorded during 2002-03. Total revenue during the year stood at Rs 532 crore as against Rs 454 crore marking an increase of 17 per cent, according to a company release. Engaged primarily in the business of food grains, Satnam is the domestic market leader in basmati rice through its flagship Kohinoor brand. It also has other brands such as Trophy, Shehanshah and Falcon. Total sale of branded products recorded an increase of 39 per cent during the year to Rs 185 crore as compared to Rs 133 crore in the previous year. For the quarter ended March 2004, the company posted a 43 per cent increase in PAT to Rs 4.37 crore from Rs.3.05 crore during 2002-03. The earning per share (EPS) on basic and diluted earnings (annualized) for the quarter stood at Rs.2.23. According to Mr Gurnam Arora, Joint Managing Director of the company, "The results for the fourth quarter are satisfactory and are in line with our expectations. This performance is achieved with the help of increase in branded sales and better working capital management. Last year we strongly pursued our strategy of strengthening our brands to deliver sustainable quality growth in the face of intense competition, a sluggish economy and declining market."
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