Date:31/07/2004 URL: http://www.thehindubusinessline.com/2004/07/31/stories/2004073101941200.htm

Back Satnam Overseas net up

Our Bureau

New Delhi , July 30

SATNAM Overseas on Friday declared 32.7 per cent higher net profit at Rs 3.45 crore on 36.33 per cent lower net sales of Rs 101.12 crore for first quarter ended June 30, 2004.

Said the Joint Managing Director, Mr Gurnam Arora: "The results for the first quarter are satisfactory and are in line with our expectations. The company has shifted its focus from trading business to branded basmati and FMCG products. Botttomline has improved because of better margins in branded food business."

Branded basmati exports were up 32.2 per cent while sales were up 16.7 per cent during the quarter under review. Branded FMCG division sales were up 144.7 per cent during the same period.