LT Foods Limited Reports Earnings Results for the Second Quarter and Six Months Ended September 30, 2023
October 30, 2023 at 01:38 pm IST
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LT Foods Limited reported earnings results for the second quarter and six months ended September 30, 2023. For the second quarter, the company reported sales was INR 19,777.86 million compared to INR 17,248.37 million a year ago. Revenue was INR 19,918.13 million compared to INR 17,316.07 million a year ago. Net income was INR 1,559.73 million compared to INR 895.02 million a year ago. Basic earnings per share from continuing operations was INR 4.49 compared to INR 2.8 a year ago. Diluted earnings per share from continuing operations was INR 4.49 compared to INR 2.8 a year ago.
For the six months, sales was INR 37,558.65 million compared to INR 33,359.42 million a year ago. Revenue was INR 37,806.36 million compared to INR 33,519.82 million a year ago. Net income was INR 2,934.14 million compared to INR 1,791.91 million a year ago. Basic earnings per share from continuing operations was INR 8.45 compared to INR 5.6 a year ago. Diluted earnings per share from continuing operations was INR 8.45 compared to INR 5.6 a year ago.
LT Foods Limited is an India-based fast moving consumer goods (FMCG) company in the consumer food space. The Company is engaged in the specialty rice and rice-based foods business. The Company delivers its products in approximately 65 countries across India, the United States, Europe, the Middle East, the Far East and the Rest of the World. Its flagship brands include Daawat and Royal, both are basmati brands. It offers organic staples through the brand Ecolife in global markets and supplies organic agricultural ingredients to the businesses. It has a distribution network with 1300+ distributors across the globe. It has three segments: Basmati and Other Specialty Rice, Organic Food and Ingredients, and Convenience and Health. The Basmati and Other Specialty Rice segment offers a diverse variety of specialty rice and rice-based food under the brand Daawat, Royal and other regional brands, such as Heritage, 817 Elephant, Gold Seal Indus Valley, Rozana, Devaaya, Golden Star and Leev.