After reporting a 4,175 per cent gain in net profit for the year, this company's quarterly net profit soared 216 per cent!

The company recently launched its rock salt that bagged multiple orders from major retailers.

Mishtann Foods Ltd (MFL) is an Indian agro-product company that manufactures, processes & trades a wide range of rice, wheat, and other food grains with a major emphasis on branded basmati rice. The company recently announced its outstanding Quarterly Results.  

The company recorded net sales and other operating income of Rs 158.27 crore, which reported a growth of 118.71 per cent from Rs 72.36 crore reported in Q1FY22. On the other hand, the operating profit was registered at Rs 18.25 crore in Q1FY23 as compared to an operating profit of Rs 6.10 crore in Q1FY22. Q1FY23 recorded a net profit of Rs 11.03 crore in comparison with the net profit of Rs 3.49 crore in the same quarter of the previous year, giving a strong rise of 216.05 per cent.     

Considering the yearly performance, Mishtann Foods Ltd recorded a net profit of Rs 31.21 crore as against the net profit of Rs 0.73 crore during the previous year ended in March 2021, giving a strong rise of 4,175.34 per cent. Also, its net sales surged 42.02 per cent to Rs 498.58 crore as against Rs 351.07 crore during the previous year ended March 2021.  

The company recently launched its rock salt in the retail sector under the name 'Mishtann' in 500 grams & one-kilogram packaging and marketed it across India via its retail network of roughly 72,000 retailers. This salt bagged multiple orders from major retail retailers and continues to receive positive feedback. Due to the presence of vitamin K, it helps in digestion, treating sore throats, stabilises blood pressure, promotes healthy skin, and boosts metabolism as well as the immune system.  

The upcoming sessions should be monitored closely by investors for this scrip.