HLL Acquires Balance 26% Equity In Modern Foods From Government Of India

MFIL registered a strong 52% growth in sales, under HLL’s management in 2001. It has continued on the growth and revival path in the First Half of 2002, showing a 20% increase in sales over the corresponding period of 2001. The company recorded a positive operating profit before interest and restructuring costs, of Rs.1.07 crores as against a loss of Rs.7.78 crores during the corresponding period of the previous year, and this was achieved despite a 40% increase in market development costs.