Manpasand Beverages Posts 9% Rise in Q1 Profit

Mumbai: Fruit drinks manufacturer Manpasand Beverages Ltd on Tuesday reported a 9.62 per cent jump in net profit at Rs 15.72 crore for the quarter ended June 2015.

The company had posted a net profit of 14.34 crore for the corresponding period a year ago.

Total income grew 22.7 per cent to Rs 1,548.85 crore in the quarter ended June 2015, a company statement said.

Recently, the company completed a public issue of 1.25 crore equity shares of face value Rs 10 each equity shares for cash at a price of Rs 320 per equity share including a share premium aggregating Rs 400 crore.

"The combined installed capacity for fruit drinks has increased from 30,000 PET bottle cases and 30,000 tetra pak cases per day to 65,000 PET bottle cases and 40,000 tetra pak cases per day, respectively," Manpasand Beverages chairman and managing director Dhirendra Singh said.

"Further, our installed capacity for carbonated drinks has increased from 10,000 PET bottle cases per day to 15,000 PET bottle cases per day," he added.

The company also intends to use a portion of the net proceeds, to set up a new manufacturing facility in Haryana to further augment our manufacturing capacity and also to strengthen our sales network in North India, Mr Singh said.