New Delhi, July 28, 2008: K S Oils Limited, one of India's leading integrated edible oil company and the leader in the Packaged Mustard Oils business, reported robust first quarter results, indicating a good start for the current financial year. The company reported a 91 % increase in net sales for the quarter ended June 30th, 2008. Total Income for the first quarter stood at Rs. 696.13 crores, an increase of 90.74% from Rs. 364.96 crores during the same quarter ended June 30th, 2007.
Profit after tax for the first quarter ended June 30th, 2008 increased by 75% and stood at Rs. 41.02 crores, as compared to Rs. 23.50 crores, during the same quarter of the previous financial year. The company reported an EPS of Rs. 1.21 for the quarter as compared to Rs. 0.98 in the same quarter of the previous financial year.
Commenting on the results, Mr. Sanjay Agarwal, Managing Director, K S Oils said, "The improved performance during the first quarter is attributed to our FMCG led retail sales focus. This has led to better profit realisation per unit and complimented by the implementation of an effective supply chain management system. We believe that the first quarter will show us the trend for the rest of the year. "
K S Oils has made an entry in the organised retail sector; its products Kalash and Double Sher are available in Big Bazaar (Future Group), Spencers (RPG Group) and More (Aditya Birla Group) outlets in select cities of Eastern India. The company plans to ramp up its presence with organised retail outlets across the country in this year.
The company has also released its first TV Commercial (advertisement) in regional channels in select parts of the country. The advertisement will be aired nationally from August 2008 onwards across all leading TV channels to ensure brand building and a FMCG led push for the company.
The company's commitment towards green energy saw it further increase its power generation by adding 6 MW of windmill generating capacity this quarter.
The board reviewed and accepted the audited results for the financial year ending March 2008; the company announced a dividend of 18% for its shareholders for last year.
Annual General Meeting (AGM) of the shareholders of the company will be held on September 20th, 2008.
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