Hatsun Agro Q2 profit jumps 83% to Rs 77.57 crore

Dairy firm Hatsun Agro Product Ltd on Thursday reported an 83 per cent increase in its net profit to Rs 77.57 crore in the second quarter of this fiscal year.

Its net profit stood at Rs 42.48 crore in the year-ago period.

Total income increased to Rs 1,919.52 crore in the July-September period of 2023-24 fiscal as against Rs 1,750.79 crore in the corresponding period of the previous year, according to a regulatory filing.

Chennai-based Hatsun Agro said that the board of directors of the company at its meeting held on July 5, 2023 had approved the sale of windmills to an identified buyer for a consideration of Rs 135 crore by way of transfer of all the related assets and liabilities on a slump sale basis.

"The sale was completed in the month of September 2023 on execution of necessary documentation. The profit from the said sale amounting to Rs 1,013.24 lakhs has been classified under other income," it added.