Hatsun Agro Products has more than doubled its net profit in the fourth quarter of 2012-13 as compared with that of the corresponding quarter in the previous year.
The company, the largest private sector dairy, has reported a 54 per cent growth in net profit to Rs 6.08 crore (Rs 2.82 crore) on a total income of Rs 597.68 crore (Rs 433.81 crore).
The growth was driven by `substantial growth in volumes’, reaching critical thresholds in milk products including ice creams and control of costs, according to R.G. Chandramogan, Managing Director, Hatsun Agro.
The company has announced a dividend of Rs 0.40 an equity share of the face value of Re 1. For the year ended March 31, 2013, the company has reported a net profit of Rs 44.66 crore (Rs 26.60 crore) on an income of Rs 2,165 crore (Rs 1,603.53 crore).
Hatsun Agro has more than doubled its turnover in the last four years.
The company, which handles over 13 lakh litres of liquid milk daily is reaping the benefits of volume growth and adequate infrastructure across its brands including Arokya milk; the Ibaco chain of exclusive ice cream parlours, the volume-based Arun Ice Creams; and long shelf life products, the Hatsun brand of ghee, milk powder and dairy products which give it a national presence along with the Ibaco chain, he said.