International Development News
Development News Edition
Give Feedback


PTI Mumbai
Updated: 31-10-2018 21:15 IST

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

the benchmark.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)