Rei Agro Q3 net profit doubles to Rs 249.62 crore

Basmati rice processor Rei Agro today reported an over two-fold jump in the consolidated net profit at Rs 249.62 crore for the third quarter ended December, 2012 on account of increased sales. The company's net profit was Rs 123.8 crore in the same quarter last fiscal year.

There was significant rise in profit as the company's net income jumped to Rs 2,121.73 crore during the reported quarter from Rs 1,480.25 crore in the year-ago period, Rei Agro said in a filing to the Bombay Stock Exchange (BSE).

The city-based rice processor sells basmati rice under the brand Raindrop.

The company's stock fell by 3.98 per cent to settle at Rs 9.42 on the BSE today.