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MTR Foods eyes Rs 1,000-crore revenue in CY17
Bengaluru-based MTR Foods today said it expects to cross Rs 1,000-crore revenue mark in the current calendar year on the back of new initiatives such as introducing region-specific variants. The food products company had clocked revenue of Rs 800 crore during the last year.
Hyderabad: Bengaluru-based MTR Foods today said it expects to cross Rs 1,000-crore revenue mark in the current calendar year on the back of new initiatives such as introducing region-specific variants. The food products company had clocked revenue of Rs 800 crore during the last year.
The Indian subsidiary of Norwegian conglomerate Orlka today launched here a new variant of its popular product Sambar Powder which is specifically designed for consumers with a spicier palate. "We posted Rs 800 crore (revenue) during the last calendar year. We expect to touch about Rs 1,000 crore during this year. "Innovation is a big thing for us.
If you see we have introduced about 44 innovations into the market during the last five years. Today they contribute about 10 per cent to our total revenues," Sanjay Sharma, CEO of MTR Foods, said at a press conference. He said the initiatives such as introducing region specific products would yield good results. Replying to a query, Sharma said the food maker gets about 10 per cent of its revenue from exports. Currently, the company caters to 30 international markets.
