NHC Foods reports 333% quarterly rise in total income to Rs 451.32 crore and over 16-fold jump in profit
AgenciesMumbai: NHC Foods, an exporter of agricultural commodities and spices, reported a sharp improvement in financial performance for the September quarter, with total income rising 333 per cent year-on-year to Rs 451.32 crore and profit surging more than 16-fold to Rs 21.68 crore.
The company had reported total income of Rs 104.09 crore and profit of Rs 1.34 crore in the corresponding quarter of the previous financial year, according to a company statement.
For the first half of FY27, NHC Foods posted total income of Rs 821.45 crore, an increase of 282 per cent from Rs 214.68 crore a year earlier. Profit rose nearly 13-fold to Rs 38.68 crore, compared with Rs 3.01 crore in the year-ago period.
Commenting on the performance, Managing Director Satyam Joshi said, "We are encouraged by the strong performance this quarter and in the first half and remain focused on sustaining this growth momentum. Our strategy is centred on expanding our operations, strengthening our presence in the agri commodities and food processing sectors, and pursuing opportunities that complement our capabilities. We remain committed to creating long-term value for our stakeholders."
Separately, the company's board approved the acquisition of a 99.98 per cent stake in Sachmaas Foods, which is engaged in the manufacturing, processing, repacking and trading of chickpeas, peanuts and other food products through wholesale and retail channels.
The acquisition is expected to expand NHC Foods' presence in food processing and strengthen its product portfolio.
The board also approved the appointment of Jayesh Shah, who has over 15 years of experience in the food processing and FMCG sectors, as an Additional Director. Alesha Hakim Khan was appointed Company Secretary and Compliance Officer. PTI
The company had reported total income of Rs 104.09 crore and profit of Rs 1.34 crore in the corresponding quarter of the previous financial year, according to a company statement.
For the first half of FY27, NHC Foods posted total income of Rs 821.45 crore, an increase of 282 per cent from Rs 214.68 crore a year earlier. Profit rose nearly 13-fold to Rs 38.68 crore, compared with Rs 3.01 crore in the year-ago period.
Commenting on the performance, Managing Director Satyam Joshi said, "We are encouraged by the strong performance this quarter and in the first half and remain focused on sustaining this growth momentum. Our strategy is centred on expanding our operations, strengthening our presence in the agri commodities and food processing sectors, and pursuing opportunities that complement our capabilities. We remain committed to creating long-term value for our stakeholders."
Separately, the company's board approved the acquisition of a 99.98 per cent stake in Sachmaas Foods, which is engaged in the manufacturing, processing, repacking and trading of chickpeas, peanuts and other food products through wholesale and retail channels.
The acquisition is expected to expand NHC Foods' presence in food processing and strengthen its product portfolio.
The board also approved the appointment of Jayesh Shah, who has over 15 years of experience in the food processing and FMCG sectors, as an Additional Director. Alesha Hakim Khan was appointed Company Secretary and Compliance Officer. PTI