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Agro Tech Foods has reported a little over six per cent jump in its standalone net profit to Rs 13.88 crore for the quarter ended March 31, 2013.
The Secunderabad-based company had posted a net profit of Rs 13.06 crore during the same quarter last year, the company said in a filing to the BSE.
Net income, however, declined to Rs 205.15 crore during the fourth quarter of fiscal 2012-13 compared with Rs 220.46 crore in the year-ago period.
The company said that its board has approved the buyback of 10 lakh fully paid equity shares from shareholders through a tender offer on a proportionate basis on April 24. Shareholders will be paid Rs 520 in cash for each share worth Rs 10 apiece.
The company said that the buyback will be implemented with the approval of shareholders by way of special resolution through postal ballot.
The company has a dominant market share in the premium refined oil segment. It shares were trading down 1.63 per cent at Rs 517.55 on the BSE.
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