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Innodis of Mauritius Says Third-Quarter Profit Climbs 29%

May 11 (Bloomberg) -- Innodis Ltd., Mauritius’s largest food company by market value, said profit climbed 29 percent in the third quarter through March as sales increased.

Net income advanced to 53.6 million rupees ($1.95 million) from 41.5 million rupees a year earlier, the Port Louis-based company said in a statement on the Stock Exchange of Mauritius’s website today. Revenue surged to 824.3 million rupees from 566.3 million rupees.

Nine-month revenue expanded 17 percent to 2.45 billion rupees compared with a year earlier and net income rose 43 percent to 157.3 million rupees, it said.

“The outlook for the financial year remains positive,” it said.

Innodis advanced 0.3 rupees, or 0.8 percent, to 36.5 rupees at the 1:30 p.m. close in Port Louis.

To contact the reporter on this story: Kamlesh Bhuckory in Port Louis via Johannesburg at kbhuckory@bloomberg.net

To contact the editor responsible for this story: Antony Sguazzin at asguazzin@bloomberg.net

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