Heritage Foods reports Rs 26 Crores net profit in Quarter 3, FY 2020-21

Heritage Foods reported -10.04% fall in total revenues for the Dec-20 quarter on consolidated basis at Rs604.92cr. It reported -10.04% fall in total revenues for the Dec-20 quarter on consolidated basis at Rs604.92cr. The dairy products business saw a sharp 15% fall on yoy basis due to the lockdown impacting the downstream retail businesses. The company however showed growth in its feeds and renewable energy business.

The consolidated Profit after tax (PAT) for the Dec-20 quarter was up 122.77% at Rs26.02cr on lower cost of materials consumed and also better management of inventories. This growth is despite the company booking gains of Rs54cr in the Dec-19 quarter on accounting of derivative accounting gains in their books. PAT margins also improved from 13.17% in Dec-19 to 14.26% in Dec-20.