Avanti Feeds Q4 result: Net profit rises 11% to Rs 93 crore; dividend of Rs 6.25 per share declared

Avani Feeds Q4 results: Avanti Feeds on May 24, 2023, reported a consolidated net profit of Rs 93.34 crore for the Q4FY23, up 10.65 per cent against Rs 84.35 crore logged in the year-ago period. Revenue from operations stood at Rs 1,093 crore, down 18 per cent against Rs 1,332 crore registered in the March 2022 quarter. The company also announced a dividend of Rs 6.25 (625 per cent) per equity share of the face value of Re 1 each fully paid up, for the financial year ended March 31, 2023.

Avanti Feeds further informed that the Board has recommended the re-appointment of Sri Jasthi Venkata Ramudu, as an Independent Director for the 2nd consecutive term of five years with effect from 10th November 2023 to 9th November 2028, on the recommendation of the Nomination and Remuneration Committee, subject to the approval of Members at the ensuing Annual General Meeting. Basic earnings per share (EPS) stood at Rs 6.85 for the quarter against Rs 6.19 in the year-ago period.

At the time of writing this report, shares of the company were trading nearly 1.5 per cent higher to Rs 370.05 apiece on the BSE. 

In March this year, Avanti Feeds acquired 100 per cent of Srivathsa Power Projects, which operates a 17.2-megawatt natural gas-based power plant in the state of Andhra Pradesh.