ADF Foods rises 5%

ADF Foods, in the opening bell session jumped up almost 5% to Rs.304.35, which is less than 4% its 52-week high of Rs.316.10.

The company, which was earlier recognized as American Dry Fruits, is engaged in manufacturing, a wide range of canned, bottled and processed vegetables fruits and foods for the export and domestic markets.

The market is enthused with the company’s financial performance for Q2FY18. The company’s growth in consolidated total income was flat at Rs.52 crore but bringing down its total expenses by 8.5% helped boost the bottomline. EBITDA for the quarter rose 54% at Rs.10 crore.

Its net profit for the quarter doubled to Rs.6 crore from Rs.3 crore and its H1FY18 net profit showed a smart 57% jump at Rs.11 crore.