Sharat Industries posts Rs 5.74 cr profit in Q2

New Delhi, Nov 14 (PTI) Sharat Industries on Friday posted a 54 per cent rise in net profit to Rs 5.74 crore in the September quarter on the back of higher revenues.

The company reported a net profit of Rs 3.73 crore in the year-ago period, a statement said.

Its operating income rose to Rs 149.73 crore during the quarter from Rs 100.34 crore in the same period a year ago.

The company explained that geographic diversification, new-market launches and new products for existing clients drove growth.

The company's burgeoning business to Russia and foray into China with new products helped offset the impact of higher US tariffs, whilst exports to US continued, it stated.

Sharat Reddy Sabbella, Executive Director, said in the statement, "Our priorities have been clear -- diversify markets and refresh the product mix. Exports to Russia and China grew revenue, while US exports remained active in spite of the tariff surge." Established in 1990, Sharat Industries operates an end-to-end shrimp value chain across feed, farming, processing and exports to deliver traceable, healthy shrimp to customers worldwide. PTI KKS TRB