Private dairy firm Heritage Foods
Wednesday reported a 183 per cent year-on-year jump in net
profit at Rs 20.98 crore in the September quarter.
It had posted a profit of Rs 7.41 crore in the same
period last year.
The company's revenues from operations rose marginally
to Rs 619.37 crore during the quarter, compared with Rs 616.08
crore in the year-ago period, a company statement said.
Its EBITDA grew by 120.2 per cent to Rs 50.32 crore,
against Rs 22.85 crore in the same quarter last year. The
EBITDA margin improved by 442 basis points to 8.1 per cent,
against 3.7 per cent last year.
Brahmani Nara, executive director, Heritage Foods,
said, the firm posted noticeable growth in its profitability
during the quarter led by improvement in margins.
"We are expecting pick-up in demand for our dairy
products in the second half of this year. Our focus is on
increasing our market shares in our key business segments and
we believe that our strong competitive advantage would help us
to drive our profitability going forward," he added.
The installed chilling capacity of the company has
grown to 18.71 lakh litres per day (LPD), compared with 16.91
lakh LPD in the corresponding quarter of last year, according
to the statement.
The processing capacity of the milk and milk products
has increased to 25.70 lakh LPD, against 18.90 lakh LPD in the
same period last year, while the milk packing capacity rose to
17.15 lakh LPD, compared with 11.35 lakh LPD.
The number of franchisee parlours have gone up to
1,509, against 129 parlours in the year-ago quarter.
The company's stocks ended the day 11.12 per cent up
at Rs 548.40 apiece on the BSE, against 1.63 per cent rise in
(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)