Hatsun Agro Q4 net profit hits Rs 52 crore mark

CHENNAI: Hatsun Agro Product reported a net profit of Rs 52.16 crore in Q4 FY24 compared to Rs 24.99 crore in Q4 FY23 registered a growth of 108.76 per cent.

Its revenue from operations in Q4 FY 24 was Rs 2046.87 crore as against Rs 1789.46 crore in Q4 FY23 registered a growth of 14.38 per cent. Procurement of milk registered a growth of 39.04 per cent in FY 24 over FY23.

The company’s profit after tax in FY24 was Rs 267.29 crore as against Rs 165.86 crore in FY 23, thereby registering a growth of 61.15 per cent, as per a release. Revenue from operations in FY24 was Rs 7990.40 crore as against Rs 7246.97 crore in FY 23, recording a growth of 10.26 per cent. In FY24, milk procurement saw a growth of 20.30 per cent.

As per the company, COVID had disturbed the operations for two years, which impacted milk procurement in the second half of FY 2022-23 and the first half of FY 2023-24.

Normalcy has been restored in the H2 of 2023-24 for both procurement of milk and sales.

RG Chandramogan, chairman, Hatsun Agro Product, said; “Strong sales recovery in the domestic market post COVID with good summer sales led to good sales volume. All our business verticals did well with our leading brands registering healthy sales growth. HAP’s retail expansion in the last two years helped us reach customers in new markets like Maharashtra, Orissa, West Bengal and Madhya Pradesh and also supported existing strong bases in South India.”

Noting that the company had invested about Rs 550 crore across new manufacturing facilities for capacity expansion in curd and milk products and in market assets in the last financial year, he said this would further support its sales plans for FY 2024-25. “Considerable investments have also been made to strengthen distribution, sales and marketing of our brands,” he added.