Heritage Foods’ Q1 profit jumps 55%

Our Bureau Hyderabad | Updated on July 29, 2020 Published on July 29, 2020

Brahmani Nara, Executive Director, Heritage Foods   -  P_V_SIVAKUMAR

Posts lower revenue of ₹638.91 crore in Q1

Dairy company Heritage Foods has posted profit after tax at ₹29.23 crore for the first quarter ended June 30, 2020, compared with ₹18.84 crore in Q1FY20, registering an increase of 55 per cent.

The company’s consolidated revenue from operations was, however, lower at ₹638.91 crore, compared with ₹721.25 crore in Q1FY20, having taken a hit during the Covid-19 pandemic and the resultant lockdown.

The company’s EBIDTA was at ₹57.65 crore compared with ₹48.80 crore in Q1FY20, registering a growth of 18.1 per cent.

Brahmani Nara, Executive Director, in a statement, said: “We are happy to support our farmers by procuring milk from all farmers during these trying times. We have ensured uninterrupted supplies to consumers in rural and urban areas, while maintaining all the safety procedures such as social distancing, from procurement to points of sales, and sanitising the premises and vehicles on a regular basis.”

Presently, Heritage’s milk and milk products have a market presence in Andhra Pradesh, Telangana, Karnataka, Kerala, Tamil Nadu, Maharashtra, Odisha, NCR, Delhi, Haryana, Uttar Pradesh and Uttarakhand. The company has a total renewable energy generation capacity of 10.39 MW from both solar and wind sources, for captive consumption.

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Published on July 29, 2020
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