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Hyderabad, Jan. 24 CCL Products (India) Ltd has entered into an agreement with the FMCG company, Jyothy Laboratories Ltd, to form a joint venture company.

"We are going to launch Continental Speciale brand of instant coffee through this JV," a company press release said here on Tuesday.

"A JV is being incorporated as a special purpose vehicle to promote the brand in India," it said.

Turnover up in Q3

Meanwhile, CCL Products has registered sales of Rs 66.37 crore for the third quarter ended December 31, 2006, as against Rs 39.26 crore achieved in the same quarter last year, showing a growth of 69 per cent.

The net profit for the quarter stood at Rs 11.09 crore (Rs 10.53 crore), a growth of 5.32 per cent.

For the nine-month period, the company registered sales of Rs 147.14 crore (Rs 97.60 crore), showing a growth of 50.75 per cent. The net profit was Rs 32.20 crore (Rs 25.68 crore), a growth of 25.38 per cent.

More Stories on : Alliances & Joint Ventures | Coffee

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