Mumbai: July 2022: Hatsun Agro Product Ltd, India’s leading private sector dairy company has announced its financial results for the first quarter ended 30th June 2022.
Q1 FY 23 Revenues up by 31%
FY23 vs FY22 comparison: Hatsun Agro Product Ltd reported:
1. Revenue from operations registered in Q1 FY 23 was Rs.2014.60 crores as against Rs.1538.78 crores in Q1 FY 22 registered a growth of 31%
2. PAT in Q1 FY 23 was Rs.51.95 crores as against Rs.58.33 crores in Q1 FY 22.
Company had experienced high inflation in raw materials, packing materials and logistics. Inflation after peaking had started moderating and suitable price corrections were done at the end of Q1.
Performance for the quarter and outlook
Commenting on the results, Mr. RG Chandramogan, Chairman, Hatsun Agro Product Ltd said; “we are happy to report good growth in revenues and crossing 2000 crores sales mark for the first time in a quarter. Strong sales recovery in the domestic market post Covid with good summer sales led to highest ever quarterly sales volume. All our business segments did well with our leading brands registering healthy sales growth. HAP’s retail expansion in the last two years helped us reach customers in new markets like Maharashtra, Orissa, West Bengal and Madhya Pradesh and also supported existing strong bases in South India.
HAP in the last financial year, had invested about Rs.450 crores across new manufacturing facilities for capacity expansion in Ice Cream, Milk, Curd, Milk Products and Cattle Feed. The new capacities will further support our sales plans for FY 2022-23. Considerable investments have also been made to strengthen distribution, sales and marketing of our brands”.
Hatsun Agro Product Ltd has started exports of Arun Icecreams to Singapore and Maldives in the last quarter. HAP has plans to further widen the international reach for Arun Icecreams.