At company level, Keells Food Products (KFP) remained profitable although at much lower levels, analysts said.
KFP had made a group net profit of 12 million rupees in the December quarter a year ago.
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The India operations continue to present many challenges and these are being addressed, the firm said in a note accompanying the accounts filed with the stock exchange.
Whilst the presence in India has been well established the volume growth has been slower than anticipated.
KFP™s Sri Lanka operations made a profit of 57 million, lower than the year before.
But losses in its overseas business rose to 129 million rupees from a loss of nine million a year ago.
Despite the loss, KFP had continued to make additional investments in its fully-owned overseas subsidiaries during nine-month period up to December 31, 2009.