CavinKare aims to garner Rs65-crore revenue from the new business and the product would be available at 60,000 retail outlets in Tamil Nadu, CavinKare CMD, CK Ranganathan said
In a move to consolidate its dairy business, FMCG major CavinKare launched Ultra High Temperature (UHT)-treated milk sachets, through which it aims to generate Rs65-crore revenue this year. The Chennai-based company claimed its new product to be “revolutionary’’, one that comes with a shelf-life of 120 days.
“We are launching this new initiative in Tamil Nadu... this is another revolutionary product,” CavinKare CMD, Mr CK Ranganathan said. The company would test the success of the product in this market and based upon it, it would gradually extend it to other markets.
For manufacturing UHT-treated milk sachets, the company has set up a new line at its manufacturing plant in Bhavani (near Erode district) which has a capacity of 65,000 units, he said, adding that there are plans to increase its capacity to one lakh units.
The company has aimed to garner Rs65-crore revenue from the new business and the product would be available at 60,000 retail outlets in the state, Mr Ranganathan said.
In the coming days, the company also has plans to further expand the dairy business with more cold chain facilities.
The company has fixed the price for the new product at Rs19 for a 500-ml double toned milk, Rs20 for 500-ml toned milk, Rs22 for 500-ml standardised milk and Rs22 for 500-ml diet milk.
The total income of Everonn Education for the third quarter ending 31 December 2011 stood at Rs88.27 crore
Education services company Everonn has reported a net loss of Rs6.54 crore for the third quarter ending 31 December 2011. The company reported a net profit of Rs21.62 crore during the same period of previous year, Everonn Education said in a statement.
For the nine month period ending 31 December 2011 the net profits of the company dipped to Rs8.78 crore as against Rs44.87 crore registered during the same period of previous year.
The total income of the company for the third quarter ending 31 December 2011 stood at Rs88.27 crore as against Rs85.70 crore registered during the same period of previous year. For the nine month period ending 31 December 2011, the total income of the company rose to Rs218.94 crore from Rs204.08 crore registered during the same period of previous year.
The company said “given the seasonal nature the industry, the results of any quarter may not be a truly indicative of the quarter to quarter/annual performance”. Besides it said, “considering the delay in realisation of dues from government and other contracts, no adjustments have been made in the unaudited consolidated financial results, as the management is confident of its ultimate recovery”.
In the early afternoon, Everonn Education was trading at around Rs321 per share on the Bombay Stock Exchange, 4.42% up from the previous close.
“Historically its peak earnings are in the April-September period and its results are in line with trading expectations,” Cox & Kings director Peter Kerkar said
Travel company Cox & Kings (CKL) posted a net loss of Rs7.56 crore for the quarter ended 31 December 2011. In the year ago period, the company had posted a net profit of Rs27.41 crore in the corresponding quarter of last year.
The results for the quarter are not comparable with that of the same period previous fiscal due to the acquisition of Holidaybreak Plc during the second quarter of the fiscal, CKL said in a statement.
“Holidaybreak has seasonal businesses and generally the October-March period is off-peak season. Historically its peak earnings are in the April-September period and its results are in line with trading expectations,” Cox & Kings director Peter Kerkar said.
The income for the period stood at Rs284.62 crore as compared to Rs108.31 crore for the year ago period.
In the early afternoon, Cox & Kings was trading at around Rs184.70 per share on the Bombay Stock Exchange, 0.27% down from the previous close.