Hatsun Agro Product Ltd, a leading Chennai-based dairy company, reported a 16 per cent drop in net profit to ₹25 crore for the fourth quarter ended March 31, 2023 as against ₹30 crore for the corresponding quarter previous year. Revenue was up 10 per cent to ₹1,791 crore (₹1,627 crore). Cost of materials consumed during the quarter increased by 18 per cent to ₹1,298 crore (₹1,099 crore).

For the year ended March 31, 2023 the company’s net profit declined by 24 per cent to ₹166 crore as against ₹218 crore in the previous fiscal. Revenue increased by 13 per cent to ₹7,257 crore (₹6,380 crore), according to a financial statement provided by the company to the Bombay Stock Exchange on Tuesday night.

On the BSE, the company’s share price on Tuesday closed at ₹870.35, up by ₹7.50.