Ice-cream major Vadilal Industries Ltd on Thursday reported a 19% growth in turnover and 24% in net profit in 2011-12, ended March 31, 2012, as compared to the corresponding period last financial year.

While the company’s turnover was Rs 282.08 crore (Rs 236.65 crore), a growth of 19.2%, the net profit stood at Rs 5.80 crore (Rs 4.69 crore), up by 23.67%, the company said here in a statement.

The company also announced a dividend of Rs 15% for FY12.

For the fourth quarter, Vadilal reported a consolidated net profit of Rs 0.13 crore as against a net loss of Rs -1.82 crore posted in the Q4FY11. Net sales Q4FY12 were at Rs 59.48 crore, higher by 21.93% compared to Rs 48.78 crore in same quarter of previous fiscal. As the major business of the company, i.e. ice-creams, is of a seasonal nature, sales as well as profits during April to September period are usually higher than the October to March period.

Commenting on the financial performance of the company, Mr. Rajesh Gandhi, Managing Director of Vadilal Industries Ltd. said, “The significant expansion of our production facilities is beginning to show results. A major positive indicator for the company is the fact that the operating profits, that is earnings before interest, depreciation and taxes, has shot up by 67% this year to Rs. 26 crore as against Rs. 15.7 crore last year. We will continue to post strong growth in revenues and profits in the current and coming years too. “

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