LT Foods Q3 Profit Down 5% to Rs 145 Crore

New Delhi, Jan 27 (PTI) LT Foods, a leading player in the basmati and speciality rice segment, on Monday posted 4.75 per cent drop in consolidated net profit at Rs 145.38 crore on higher expenses.

The company had logged a net profit of Rs 152.64 crore in the year-ago period.

Total income rose to Rs 2,288.25 crore from Rs 1,949.68 crore in the corresponding period of the previous year, according to a regulatory filing.

Expenses rose to Rs 2,094.42 crore from Rs 1,757.67 crore.

The Board reappointed Ashwani Kumar Arora and Surinder Kumar Arora as Managing Directors of the company, subject to approval of shareholders.

It also approved the acquisition of 4 per cent stake in Raghunath Agro Industries.

Shares of the company were trading down 7.08 per cent at Rs 370.30 apiece on BSE.