Heritage Foods posts ₹18-crore Q1 profit

Heritage Foods has posted a profit of ₹18.1 crore for Q1 FY20, against ₹21.3 crore in the previous year period.

The dairy company logged revenues of ₹721.2 crore in the June quarter, up 12.4 per cent (₹641.6 core).

Brahmani Nara, Executive Director, said: “Our efforts in increasing the depth of the brand across existing and new markets have been paying off well in the form of good growth rates at the revenue level. Profitability is a function of increasing volumes in newer markets and value added products, which the company has been working on very actively. We should see the results in the coming quarters.”

“The cost of procurement during the first quarter is generally high due to summer and we had not passed on all the cost to consumers,” she said.

Heritage Foods has a chilling capacity 20.24 lakh litres per day, processing capacity of 25.70 lakh litres per day and packaging capacity 17.08 lakh litres per day.