Mumbai: Ice-cream maker Vadilal Industries on Monday reported 59.12 percent rise in net profit at Rs 13.78 crore for first quarter ended June 30, buoyed by expansion in production and aggressive marketing campaigns.
The Ahmedabad-based firm had posted a profit of Rs 8.66 crore in the corresponding period in the last fiscal.
Sales during the period under review stood at Rs 133.37 crore as against Rs 106.75 crore in the corresponding period last year, the company said in a statement.
"Major expansion in production capacities completed last year as well as aggressive marketing campaigns during this summer have paid off with strong growth in sales and increase in profits," Vadilal Managing Director Rajesh Gandhi said.
"The company will have a capital expenditure of Rs 30.62 crore towards expansion and modernisation of the ice-cream production facilities at Pundhra in Gujarat and Bareilly in Uttar Pradesh, as well at the processed food division situated at Dharampur in Gujarat," he said.
First Published: Monday, August 13, 2012, 21:13