NHC Foods reports 333% quarterly rise in total income to Rs 451.32 crore and over 16-fold jump in profit

Mumbai-based NHC Foods, a major player in agricultural commodities and spices exports, has seen a dramatic boost in its financial performance for the September quarter. Total income leapt 333% year-on-year to Rs 451.32 crore, while profit surged over 16-fold to Rs 21.68 crore. This comes after the company reported Rs 104.09 crore in total income and Rs 1.34 crore profit in the same quarter last year, as per a company statement.

For the first half of FY27, NHC Foods' total income rose 282% from Rs 214.68 crore to Rs 821.45 crore. Profit increased nearly 13-fold to Rs 38.68 crore, compared to Rs 3.01 crore a year earlier.

Managing Director Satyam Joshi expressed optimism about the company's performance, stating, "We are encouraged by the strong performance this quarter and in the first half and remain focused on sustaining this growth momentum." The company's strategy revolves around expanding operations, strengthening its position in agri commodities and food processing sectors, and exploring new opportunities that align with its capabilities. Joshi affirmed the company's commitment to creating long-term value for its stakeholders.

Moreover, NHC Foods' board approved the acquisition of a 99.98% stake in Sachmaas Foods, a firm specializing in chickpeas, peanuts, and other food products manufacturing, processing, repacking, and trading. This acquisition is expected to bolster NHC Foods' presence in food processing and broaden its product portfolio.

The board also announced the appointment of Jayesh Shah, a seasoned professional with over 15 years of experience in the food processing and FMCG sectors, as an Additional Director. Additionally, Alesha Hakim Khan has been appointed as Company Secretary and Compliance Officer.