Rice exporter Kohinoor Foods (KFL) today posted a consolidated net profit of Rs 188.65 crore for the 2011-12 fiscal driven by sale of part of its business.
KFL had made a loss of Rs 8.98 crore in the previous fiscal, the company said in a filing to the BSE.
Total net profit grew significantly in the 2011-12 financial year as the company made a profit of Rs 335.98 crore by transferring part of its business, it said.
Last year, the company had invested Rs 42.21 crore to acquire 15 per cent shareholding in its joint venture company Kohinoor Speciality Foods, it added.
Net sales grew marginally to Rs 1,075.1 crore, from with Rs 1,022 crore in the review period.
The company shares were trading 2.36 per cent up at Rs 30.40 at 1430 hrs on the BSE.