New Delhi: Dairy firm Kwality Ltd on Thursday reported a 21 per cent increase in net profit at Rs 34.10 crore for the quarter ended June 2014, on higher sales.
The company had registered a net profit of Rs 28.21 crore for the corresponding period a year ago.
Net sales rose 27 per cent to Rs 1,326.22 crore in the first quarter of the ongoing fiscal year (2014-15) as against Rs 1,042.55 crore in the year-ago period, Kwality said in a statement.
"The results are as expected and broadly in sync with our objectives and strategies. With factors such as rising disposable income, migration of people to packed milk structural changes in food habits coupled with better margins in the value added product segment has helped us to post good numbers," Kwality executive director Sidhant Gupta said.
Mr Gupta said the company is focusing on the value added products and this segment would be a big contributor to its product basket in the times to come.
With six milk processing units in Uttar Pradesh, Haryana and Rajasthan, Kwality caters to retail customers under brand 'Dairy Best' and supplies dairy products to institutional customers.
Shares in Kwality, on Thursday, ended at Rs 49.05 apiece on the BSE, up 1.34 per cent from the previous close.