Our Bureau

Hyderabad, May 30

HERITAGE Foods (India) Ltd has reported a fall in net profit for the fourth quarter of fiscal ended March 31, 2005, despite recording a growth in turnover.

According to the audited financial results, the company has posted a turnover of Rs 63.68 crore and a net profit of Rs 3.25 crore for the quarter under review. In the same quarter of the previous fiscal, it reported a turnover of Rs 58.18 crore and a net profit of Rs 4.13 crore.

For the year ended March 31, 2005, the company has posted a turnover of Rs 266.91 crore (Rs 235.83 crore) and a net profit of Rs 10.09 crore (Rs 14.36 crore). The board has recommended a dividend of 30 per cent for the fiscal under review.

The Managing Director, Mr V. Nagaraja Naidu, said the company has commenced milk procurement, processing and packing operations by commissioning a new plant at Yandagandi village in East Godavari.

He attributed the fall in profitability to increase in milk procurement cost and fall in selling prices of fat-related milk products.

(This article was published in the Business Line print edition dated May 31, 2005)
XThese are links to The Hindu Business Line suggested by Outbrain, which may or may not be relevant to the other content on this page. You can read Outbrain's privacy and cookie policy here.