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Higher volumes, focus on sales of value added branded dairy products and cost control have contributed to Hatsun Agro reporting a net profit in the first quarter of the current year against a net loss in the corresponding period last year.
The private sector dairy company’s sales have gone up by 32 per cent during the quarter contributing to the growth in profits. The company reported a net profit of Rs 13.89 crore for the quarter ended June 30, on net sales of Rs 489.70 crore. During the corresponding period last year, it reported a net loss of Rs 35 lakh on net sales of Rs 370.75 crore.
The company is consciously moving away from commodity sales, primarily that of skimmed milk powder. This has contributed to better margins and growth in profit, according to R.G. Chandramogan, Chairman and Managing Director.
Addressing shareholders at the AGM today, Chandramogan said economies of scale, pan-India presence of its milk products and cost control have contributed to the company’s performance.
On the BSE, the company’s shares closed higher at Rs 93.25 a share.
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