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Heritage Foods has posted a consolidated net profit of ₹20.81 crore in the quarter ended December 31, 2021, as against ₹26 crore in the comparable quarter last year.
The firm reported a consolidated revenue of ₹667 crore in the third quarter as against ₹605 crore in the comparable quarter previous year.
The net profit for the nine-month period stood at ₹84 crore as against ₹129.6 crore in the same period previous year. It registered a revenue of ₹1,985 crore (₹1,853 crore) during the nine-month period.
The growth in revenues in the third quarter was largely attributed to the growth in sales of value-added products. It grew to ₹165 crore, showing a growth of 21 per cent.
The average milk procurement during the quarter stood at 1.2 million litre per day (MLPD) compared to 1.1 MLPD in the comparable quarter last year.
Milk sales
The average milk sales during the quarter was 1.03 MLPD in the quarter as against 0.97 MLPD in the same quarter previous year.
“The company continued to deliver strong top-line growth riding on its value-added product portfolio expansion,” Brahmani Nara, Executive Director, has said.
“Heritage Novandie Foods entered the Bengaluru market during the quarter. Additionally, we introduced the natural French probiotic yogurts across all the geographies during the quarter,” she said.
Heritage Novandie Foods Private Limited is a 50:50 joint venture set up by Heritage Foods and the French firm Novandie. It manufactures and markets dairy products in India.
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