LT Foods Ltd Reports Impressive Q1 Profit Growth

LT Foods Ltd reported a 13% rise in consolidated net profit to Rs 155.28 crore for Q1 ending June 30, 2024, up from Rs 137.44 crore a year prior. Revenue from operations increased by 16.44% to Rs 2,070.50 crore. The board also declared a second interim dividend.

LT Foods Ltd on Thursday reported a noteworthy 13 percent increase in its consolidated net profit, reaching Rs 155.28 crore for the quarter ending June 30, 2024. This marks a rise from the Rs 137.44 crore reported in the same period last year, according to a regulatory filing.

The company's revenue from operations surged by 16.44 percent to Rs 2,070.50 crore compared to Rs 1,778.07 crore a year ago. Total expenses also climbed to Rs 1,890.30 crore, reflecting a 16.54 percent increase.

The Managing Director & CEO, Ashwani Arora, credited their premiumization strategy for driving higher margins and continued consumer relevance. Additionally, the Ready-to-Eat and Ready-to-Cook segments saw a significant growth of 37 percent year-on-year in the first quarter.

The board has declared a second interim dividend of Rs 0.50 per equity share during its Thursday meeting. LT Foods Ltd's shares settled at Rs 290.15 on BSE, slightly down by 0.15 percent from the previous close.

(With inputs from agencies.)