Hatsun Agro Dairy firm's stock gains over 5% after net profit surges 63% in Q1

Hatsun Agro shares are trading over 5% higher on Tuesday, July 16, after the company reported a 62.9% increase in net profit at ₹130.5 crore for the first quarter that ended June 30, 2024.

In the corresponding quarter, Hatsun Agro Products posted a net profit of ₹80.1 crore, the company said in a regulatory filing. The company's revenue from operations increased 10.4% to ₹2,375 crore against ₹2,150.6 crore in the corresponding period of the preceding fiscal.

At the operating level, EBITDA jumped 39% to ₹330.3 crore in the first quarter of this fiscal over ₹237.7 crore in the corresponding period in the previous fiscal.

The EBITDA margin stood at 13.9% in the reporting quarter versus 11.1% in the corresponding period in the previous fiscal. EBITDA is earnings before interest, tax, depreciation, and amortisation.

The board has declared an interim dividend of ₹6 per equity share (600%) on the fully paid-up equity shares of the face value of ₹1 per share. This is the first interim dividend declared by the board for the financial year 2024-25.

Also, the bard has fixed July 24, 2024, as the record date for the purpose of payment of interim dividend. The interim dividend will be paid on or before August 14, 2024.