MUMBAI (Commodity Online): India-based integrated edible oil company, K S Oils Limited (BOM:526209) posted strong financial performance for the first quarter ended June 2010-11 hitting a total turnover of Rs.10.30 billion.
The turnover for the June quarter was up 13.56% from Rs.9.07 billion during the corresponding period of the previous year.
The company’s net profits rose 2.64% to Rs.505.1million for the quarter against Rs.492.1 million recorded during the corresponding period of the previous financial year.
Ramesh Chand Garg, Chairman, K S Oils said, “Strong consumer demand for healthy oil is helping us to grow steadily. Domestic demand for food items like edible oil will continue to increase with a rising demographic population of health conscious young Indians looking at healthy options in the edible oil segment. Our quarter results also show that our retail led brand strategy is bearing fruits.”
During the quarter, K S Oils strengthened its presence in North India with a distributor led retail push in the states of Jammu and Kashmir, Himachal Pradesh, Rajasthan, Punjab, Haryana and Himachal Pradesh. It added 43 new distributors during the quarter, strengthening the company's network to 1,313 distributors, it said.