Hatsun Agro posts over 100% rise in Q4 PAT at Rs 52.16 crore

Dairy and dairy products maker Hatsun Agro has reported a 108.76 per cent rise in its January-March 2024 quarter profit after tax at Rs 52.16 crore, the company said on Tuesday. The city-based company had registered a profit after tax of Rs 24.99 crore in the same period last year. Revenues during the quarter under review grew to Rs 2,046.87 crore as against Rs 1,789.46 crore registered in the same period of last year. For the financial year ending March 31, 2024, the profit after tax surged by 61.15 per cent to Rs 267.29 crore from Rs 165.86 crore registered in the same period of last fiscal. Revenue for the year ending March 31, 2024, grew by 10.26 per cent to Rs 7,990.40 crore from Rs 7,246.97 crore registered a year ago.

In a statement, the company said normalcy has been restored during the second half of 2023-24, on procurement and sales of milk as it was impacted due to the COVID-19 pandemic for two years.
Commenting on the financial performance, Hatsun Agro Product Ltd Chairman RG Chandramogan said, "We are happy to report good growth in procurement of milk and revenue both in Q4 and for the FY 2023-24. Strong sales recovery in the domestic market post-Covid with good summer sales led to good sales volume. All our business verticals did well with our leading brands registering healthy sales growth." "Hatsun Agro Products' retail expansion in the last two years helped us reach customers in new markets including Maharashtra, Odisha, West Bengal, and Madhya Pradesh," he said. During the last financial year, Hatsun Agro Products invested about Rs 550 crore across manufacturing facilities for taking up capacity expansion in curd and milk products. "The new capacities will further support our sales plans for FY2024-25. Considerable investments have also been made to strengthen distribution, sales, and marketing of our brands," he said.
Hatsun Agro continues to explore exports of ice creams to various countries, the statement added.