LT Foods Limited Reports Earnings Results for the Third Quarter and Nine Months Ended December 31, 2022
January 30, 2023 at 08:15 am
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LT Foods Limited reported earnings results for the third quarter and nine months ended December 31, 2022. For the third quarter, the company reported sales was INR 17,784.75 million compared to INR 13,682.19 million a year ago. Revenue was INR 17,918.72 million compared to INR 13,685.81 million a year ago. Net income was INR 952.7 million compared to INR 714.18 million a year ago. Basic earnings per share from continuing operations was INR 2.98 compared to INR 2.23 a year ago. Diluted earnings per share from continuing operations was INR 2.98 compared to INR 2.23 a year ago.
For the nine months, sales was INR 51,144.16 million compared to INR 39,010.6 million a year ago. Revenue was INR 51,438.54 million compared to INR 39,133.45 million a year ago. Net income was INR 2,744.61 million compared to INR 2,206.64 million a year ago. Basic earnings per share from continuing operations was INR 8.58 compared to INR 6.9 a year ago. Diluted earnings per share from continuing operations was INR 8.58 compared to INR 6.9 a year ago.
LT Foods Limited is an India-based fast moving consumer goods (FMCG) company in the consumer food space. The Company is engaged in the specialty rice and rice-based foods business. The Company delivers its products in approximately 65 countries across India, the United States, Europe, the Middle East, the Far East and the Rest of the World. Its flagship brands include Daawat and Royal, both are basmati brands. It offers organic staples through the brand Ecolife in global markets and supplies organic agricultural ingredients to the businesses. It has a distribution network with 1300+ distributors across the globe. It has three segments: Basmati and Other Specialty Rice, Organic Food and Ingredients, and Convenience and Health. The Basmati and Other Specialty Rice segment offers a diverse variety of specialty rice and rice-based food under the brand Daawat, Royal and other regional brands, such as Heritage, 817 Elephant, Gold Seal Indus Valley, Rozana, Devaaya, Golden Star and Leev.