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Heritage Foods has posted a profit of ₹20.16 crore for the fourth quarter ended March 31, 2019, as against a profit of ₹19.85 crore for the corresponding quarter of last year on a consolidated basis.
The dairy company logged in revenues of ₹635.03 crore for the fourth quarter as against ₹561.63 crore in Q4 FY18, registering a growth of 13.07 per cent.
For the financial year ended March 31, 2019, the company recorded a profit of ₹82.59 crore and revenue from operations of ₹2,514.75 crore as against a profit of ₹62.71 crore and revenue of ₹2,373.42 crore in FY18. The company has recommended a dividend of ₹2 per share (40 per cent) on a face value of ₹5 per share.
Brahmani Nara, Executive Director, said; “We have expanded our value-added products basket during the current year by launching a new range of health drinks, Ragi and Sabja Lassi.”
New plant
“Our new plant near Mumbai for the manufacturing of flavoured yogurt and desserts, which is a joint venture with leading French Dairy major Novandie, should be ready during the current financial year, and we are expecting good traction in revenues from these products from the next financial yea,” she added.
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