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Amira Nature Foods Ltd Announces Second Quarter Fiscal Year 2013 Financial Results

Stocks in this article: ANFI

Amira Nature Foods Ltd (the "Company") (NYSE: ANFI), a leading global provider of packaged Indian specialty rice, today reported financial results for the second quarter and six months ended September 30, 2012.

Second Quarter Financial Highlights:

  • Revenue increased 28.7% to $79.4 million, compared to $61.7 million in the second quarter of fiscal 2012
  • EBITDA increased 54.8% to $10.3 million, compared to $6.6 million in the second quarter of fiscal 2012
  • Profit after tax for the second quarter of fiscal 2013 increased 291.4% to $3.3 million, compared to $0.8 million in the second quarter of fiscal 2012
  • Pro forma basic and diluted earnings per share (1) for the second quarter of fiscal 2013 was $0.09 per diluted share, compared to $0.02 per diluted share in the second quarter of fiscal 2012

“We are pleased to report strong financial results for the second quarter of fiscal 2013, as our year-over-year improvements in revenue and EBITDA underscore the strength of our business model,” stated Karan Chanana, Amira’s Chairman and Chief Executive Officer. "Global demand for Basmati rice continues to grow, and with our strong team of distributors and experience in the international market, we believe we are well positioned to capitalize on the demand and achieve growth going forward.”

Mr. Chanana continued, “In October, we completed our initial public offering and listed our shares on the New York Stock Exchange. In this offering, we raised capital that will enable us to invest in our business and further improve our foundation for long-term growth.”

Second Quarter Fiscal 2013 Results

Revenue for the second quarter ended September 30, 2012 increased 28.7% to $79.4 million, compared to $61.7 million for the same period in fiscal 2012. The revenue increase was primarily due to increased sales volumes.

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