Lotus Chocolate posts Q4 profit of Rs 1.18 crore, revenue at Rs 65.82 crore

Lotus Chocolate reported its fourth quarter earnings for the financial year 2023-24 with profit at Rs 1.18 crore. (Pixabay)

Mukesh Ambani-owned Lotus Chocolate on Wednesday reported its fourth quarter earnings for the financial year 2023-24 with profit at Rs 1.18 crore, up  321.4 per cent in comparison to Rs 0.28 during the December quarter. It posted revenue from operations for the quarter in review at Rs 65.82 crore. This was up by 26.8 per cent from Rs 51.90 crore reported during the previous quarter of the same financial year.

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The company recorded total income during Q4FY24 at Rs 66.03 crore, up 26.3 per cent as against Rs 52.28 crore during the December quarter of FY24. Meanwhile, total expense incurred during the fourth quarter was at Rs 64.54 crore. This was 24.7 per cent more than Rs 51.76 crore recorded during the previous quarter of FY24.

The board also approved the appointment of KSR & Co. Company Secretaries LLP as secretarial auditor of the company for the financial year 2024-25.

Earlier in March 2023, Reliance Consumer Products Limited (RCPL), the FMCG arm and a wholly-owned subsidiary of Reliance Retail Ventures Limited (RRVL) had announced the completion of the acquisition of 51% controlling stake in Lotus Chocolate Company Limited for an aggregate consideration of Rs 74 crore.