Despite continuous rains, Hatsun Agro Product’s financial performance in the December quarter was very good, said the company’s chairman RG Chandramogan. The company reported a 26 per cent net profit to ₹57 crore in the December 2023 quarter as against ₹46 crore in the same quarter last year. Revenue was up by 11 per cent to ₹1,887 crore (₹1,696 crore). Hatsun sells products under brands such as Arun Ice Creams and Arokya Milk.
However, both net profit and revenue declined in Q3 when compared with the previous quarter. In Q2, the net profit was ₹77 crore on revenue of ₹1,905 crore.
Difficult quarter
During the third quarter, sales of ice cream and curd were badly affected. There will always be a minor difference between the second and third quarters. Last fiscal, the company sold commodities like milk powder that were not sold this fiscal. “We need to build up the stock to avoid shortage during summer,” Chandramogan told businessline.
All three months during the December quarter both ice cream and curd business were badly affected due to continuous rains. “We should recover in the March quarter, which should be very good as the rains have stopped,” he said.
Share price of Hatsun on the NSE on Saturday closed at ₹1,105, down by 2.28 per cent.