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Our Bureau

Hyderabad , Jan. 28

HERITAGE Foods (India) Ltd (HFIL), the city-based milk and milk products company, has recorded significant growth both in sales turnover and net profit for the third quarter of the current fiscal ended December 31, 2003.

According to the unaudited financial results taken on record by the HFIL board here on Wednesday, the company posted a turnover of Rs 60.35 crore compared with Rs 49.43 crore in the corresponding quarter of the previous fiscal, other income of Rs 34.71 lakh (Rs 19.26 lakh) and net profit of Rs 5.47 crore (Rs 4.45 crore), yielding earnings per share (EPS) of Rs 5.48 (Rs 4.46) on an equity base of Rs 9.99 crore.

For the nine-month period of the current fiscal, the company's sales turnover reached Rs 176.67 crore (Rs 141.43 crore). Other income stood at Rs 98.43 lakh (Rs 61.98 lakh), while net profit amounted to Rs 13.48 crore (Rs 11.74 crore), yielding an EPS of Rs 13.50 (Rs 11.75).

According to the company director, Mr V. Nagaraja Naidu, the company has started milk procurement and processing operations by commissioning two new plants — one at Namakkal in Tamil Nadu and another at Nandyal in Andhra Pradesh — during the quarter under review.

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