Mumbai: Ice cream and frozen foods maker Vadilal Industries on Friday reported a 58.74 per cent rise in net profit at Rs 21.36 crore for the fiscal first quarter that ended on June 30, 2015.
The company had registered a net profit of Rs 13.45 crore for the corresponding period a year ago.
Net sales for the period under consideration were 8.82 per cent higher at Rs 182.40 crore, as against Rs 167.61 crore a year ago.
"We have worked on installing the best technologies and machinery in the past couple of years. Our investments are assisting us for further innovation in product lines," said Rajesh Gandhi, chairman and managing director of Vadilal Industries.
"With better-equipped and upgraded production facilities in Gujarat and Uttar Pradesh, we will focus on introducing more innovative products for consumers," he added.
The company is also focusing on expanding marketing and distribution network so to reach out to more consumers in target markets.
"We have started focusing on branded business for the processed food division where margins are better compared to un-branded product marketing," Vadilal Industries Managing Director Devanshu Gandhi said.
The ice-cream maker has also expanded the customer base significantly with premium product ranges for the youth as well as kids categories.
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