New Delhi, Jan 27 (PTI) LT Foods 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.
LT Foods Managing Director and CEO Ashwani Kumar Arora said: "We will continue to invest in brands, stay relevant to consumers and further strengthen our global well-entrenched distribution network."
The company will also continue to maintain a diversified portfolio, both in terms of category and geography and its expansion based on the changing consumer trends.
Arora also said the company's focus on digitisation and sustainability enabled by investments on the brands will continue to strengthen its position as a global FMCG company in the consumer food space.
Arora and his brother Surinder Kumar Arora were reappointed as Managing Directors of the company by the board.
The board also approved the acquisition of 4 per cent stake in Raghunath Agro Industries.
The company's shares settled 7.03 per cent lower at Rs 370.50 apiece on BSE.