Mumbai, 21 October 2022: Hatsun Agro Product Ltd, India’s leading private sector dairy company has announced its financial results for the second quarter and six months ended 30th September 2022.
Q2 FY 23 Revenues up by 7.35% and H1 FY 23 Revenues are up by 18.81%
Q2 FY 23 PAT is down by 48.25% and H1 FY 23 PAT is down by 32.75%
FY23 Vs FY22 comparison: Hatsun Agro Product Ltd reported:
- Sales registered in Q2 FY 23 was Rs.1747.72 crores as against Rs.1627.99 crores in Q2 FY 22 registered a growth of 7.35%
- Sales registered in H1 FY 23 was Rs.3762.33 crores as against Rs.3166.77 crores in H1 FY22 registered a growth of 18.81%
- PAT in Q2 FY 23 was Rs.42.48 crores as against Rs.82.09 crores in Q2 FY 22 registered a decline of 48.25%
- PAT in H1 FY 23 was Rs.94.43 crores as against Rs.140.04 crores in H1 FY 22 registered a decline of 32.75%
Performance for the quarter and outlook
Commenting on the results, Mr. R G Chandramogan, Chairman, Hatsun Agro Product Ltd said; “the price increase of milk has been effected only from 12th Aug 2022 and hence the benefit has been realized partially in this quarter. The benefit of cost increase will be realized in full in the quarters to come. Further, the sales growth recorded for the half year i.e., from Apr-Sep for the FY 2022 – 23 period was about 18.81% though Q2 of FY 2022 – 23 growth was only at 7.35%. The reason for Q1 FY 2022 – 23 growth at about 31% when compared with the previous year’s Q1 revenue was due to the normal ice cream sales in the Q1 for FY 2022 – 23 and the poor ice cream sales in the Q1 FY 2021 – 22 on account of COVID situation.. Also, the Q2 (FY 2022 – 23) procurement and sales got affected due to unprecedented rains in Q2 of FY 2022 -23”.