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Bumper net profit harvested by Kaveri Seed Ltd; company declares interim dividend

Chennai, Nov 8 (IANS) Seeds major Kaveri Seed Company Ltd in Q2FY24 harvested a bumper net profit of Rs.10.72 crore up from Rs.2.72 crore earned during Q2FY23.

The company has declared an interim dividend of Rs.5 per equity share with a face value of Rs.2.

According to the Secunderabad-based Kaveri Seed Company, for the quarter ended 30.9.2023 it earned an operational revenue of Rs.96.12 crore (Q2FY23 Rs.84.49 crore) and a net profit of Rs.10.72 crore (Rs2.72 crore).

“The surge in global rice prices has propelled a remarkable 10.80 per cent increase in our rice cultivation area, marking a pivotal moment for our company. We are not only witnessing unprecedented success in our vegetable business but also aggressively expanding our footprint in international markets,” GV Bhaskar Rao, Chairman & Managing Director said.

According to Rao, the company’s focus now extends to countries like Tanzania, Algeria, Ivory Coast, Thailand, the Middle East, and Bangladesh.



Indian Abroad News Desk
Indian Abroad News Desk
Indian Abroad is a news channel and fortnightly newspaper meant for Australia’s Indian community and, besides news, focuses on lifestyle subjects like health, travel, culture, arts, beauty, fashion, entertainment, Bollywood, etc. Our YouTube channel here features daily news bulletins besides infotainment videos on lifestyle subjects.

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