Narmada Agrobase Sees Profit Surge Amid Cost Management

Narmada Agrobase Ltd's net profit soared to Rs 1.29 crore in the July-September quarter due to reduced expenses. Operating profit increased as the company managed lower inventory and raw material costs. Revenue decreased slightly to Rs 10.24 crore while the company secured Rs 36.58 crore for expansion through a rights issue.

Narmada Agrobase Ltd, an animal feed manufacturer, has reported a significant rise in net profit to Rs 1.29 crore for the July-September quarter, attributed to a reduction in expenses.

Despite the decrease in revenue to Rs 10.24 crore from last year's Rs 11.40 crore, the company saw a jump in operating profit to Rs 2.06 crore, thanks to lower inventory and raw material costs.

The firm recently raised Rs 36.58 crore via a rights issue to support its expansion plans. As a result, Narmada Agrobase shares closed up 4% at Rs 15 on the BSE.

(With inputs from agencies.)