Mother Dairy Fruit And Vegetable Private Limited which manufactures dairy products and edible oils reported a 46% decline in fiscal 2022 net profit to ₹100 crore, according to financial data accessed by business intelligence platform, Tofler.
The company had reported a profit of ₹185 crore in the previous fiscal.
Meanwhile, for the financial year ended 31 March 2022, the company reported a 20% jump in revenues to ₹12,583 crore; it had reported revenues of ₹10,452 crore in the year-ago period.
The company’s total expenses for the fiscal stood at ₹12,418 crore up 21% from the year-ago period.
To be sure, Mother Dairy manufactures, markets and sells milk and milk products including cultured products, ice creams, paneer and ghee under the ‘Mother Dairy’ brand.
The company also has a diversified portfolio with products in edible oils under the ‘Dhara’ brand and fresh fruits and vegetables, frozen vegetables and snacks, unpolished pulses, pulps and concentrates, etc. under the ‘Safal’ brand.
Mother Dairy was commissioned in 1974. It is a wholly-owned subsidiary of the National Dairy Development Board (NDDB). It was established under the initiative of ‘Operation Flood’, the world’s biggest dairy development program launched to make India a milk-sufficient nation. Mother Dairy through its brands has a national footprint across all major cities in India.
Source : Mint 21 Oct 2022