dodla net profit moves up q1 fy 24 dairynews7x7

Dodla Dairy reported a consolidated net profit of Rs 34.97 crore for the quarter ended June, up 40.32 percent from Rs 24.92 crore in the year- ago period.

On July 21, the company reported a 14.84 percent YoY (year-on-year) rise in consolidated revenue from operations at Rs 823.42 crore against Rs 716.99 crore a year ago.

EBITDA grew by 33.9 percent YoY to Rs 60.3 crore in Q1 FY24. EBITDA margin expanded by 104 bps YoY to 7.3 percent owing to lower raw material prices (44 bps YoY) and decline in other expenses (89 bps YoY). However, employee expenses grew by 29 bps YoY in Q1 FY24.

Average milk procurement during Q1 FY24 was at 15.9 LLPD as compared to 14.8 LLPD in Q1 FY23, registering 7.4% YoY growth. Average milk sales during Q1 FY24 were at 11.1 LLPD as compared to 10.4 LLPD in Q1 FY23, registering 6.2% YoY growth, the company said in an exchange filing.

“The industry has already started to experience some benefits of the upcoming flush season of 2023-24 which is likely to peak by September-October 2023.” said Mr. Dodla Sunil Reddy, Managing Director of Dodla Dairy.

On 21 July, share price of Dodla closed 3.13 percent up to Rs 765 on NSE.

Source : Money control July 21st 2023

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