Business Daily from THE HINDU group of publications
Tuesday, Apr 22, 2008
ePaper | Mobile/PDA Version | Audio
Business Daily from THE HINDU group of publications Tuesday, Apr 22, 2008 ePaper | Mobile/PDA Version | Audio |
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Corporate Results
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Oilseeds & Edible Oil Web Extras - Non-conventional Energy K.S. Oils net rises 88% in Q4 Our Bureau Mumbai, April 21 K.S. Oils Ltd, an integrated edible oil company, has posted 88 per cent rise in net profit at Rs 40 crore (Rs 21 crore) in the quarter ended March 31, 2008. Income from operations in the fourth quarter soared by 130 per cent at Rs 674 crore (Rs 293.42 crore) For the financial year 2008, K.S. Oils has doubled its net profit to Rs 122 crore (Rs 57.32 crore), while the sales turnover stood at Rs 2,041 crore (Rs 1,071 crore), an increase of 91 per cent. During fiscal 2008, sales at the retail level increased 184 per cent to Rs 654 crore (Rs 230 crore). The company shares on the BSE rose 2.04 per cent to Rs 80 on Monday. It reported an EPS of Rs 1.25 for the quarter compared to Rs 0.95 in the corresponding quarter.
Mr Sanjay Agarwal, Managing Director, K.S. Oils, said, “The implementation of new projects are on schedule. Our backward integration initiatives are progressing well and we hope to reduce the cost of raw materials significantly in the years to come. This will lead to better margins.” Recently, the company acquired 20,000 hectares of palm plantation in Indonesia with an investment of Rs 230 crore spread over the next three years. The move will reduce raw material cost and avoid global price volatility. In order to increase its power generation capacity further, the company added 28 windmills generating 24 MW of energy during the year, and hopes to add more windmills during fiscal 2009. More Stories on : Oilseeds & Edible Oil | Non-conventional Energy
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