NGIL declares profit of Rs 6.69 crore for Q1
Thiruvananthapuram, Aug 7 (UNI)
Nitta Gelatin India Ltd (NGIL) declares a turnover of Rs 67 crores and a profit of Rs 6.69 crores (before tax) in Q1 of the present fiscal.
Mr G Suseelan, MD, NGIL, today said the company, a joint venture between the Kerala State Industrial Development Corporation (KSIDC) and Nitta Gelatin Incorporated, Japan, has 'performed well and posted a profit of Rs 6.53 crores (before tax) and declared dividend of 40 per cent, which was consistent in lines with the last two years'.
The turnover was Rs 246 crores. NGIL hopes to close the financial year 2012-2013 with a turnover of around Rs300 Crores, he said.
Company started its first plant in Koratty in Thrissur district, in the year 1979. NGIL now has 5 Manufacturing facilities in Cochin, Koratty, Baroda, Nagpur and Aroor.
Gelatin finds application in pharmaceutical sector for manufacture of capsules.
The demand for gelatin is constantly on the rise including in the pharma industry, where gelatin is an unavoidable ingredient in the manufacture of capsules and soft gel tablets.
NGIL, in its pursuit to manufacture Gelatin at optimum cost, has successfully identified other raw materials for the manufacture of quality Gelatin.