Hyderabad-based Heritage Foods, one of India’s leading private dairy players, has declared its financial results for the quarter ended on 30 June 2020. The company has posted a profit after tax (PAT) after adjustments at Rs 29.23 crore for the first quarter compared to Rs 18.84 crore in Q1FY20, registering an increase of 55.1%.
However, the company’s consolidated revenue from operations was lower at Rs 638.91 crore than Rs 721.25 crore in Q1FY20. The company’s EBIDTA was at Rs 57.65 crore as compared to Rs 48.80 crore in Q1FY20, registered a growth of 18.1%.
Uninterrupted supply during the lockdown
Commenting on the results, executive director, Brahmani Nara, said, “We are happy to support our farmers by procuring milk from all farmers during this trying times. We have ensured uninterrupted supplies to consumers in rural and urban areas while maintaining all the safety procedures like social distancing from procurement to the point of sale and sanitizing the premises & vehicles regularly.”
Founded in 1992, Heritage Foods is one of the fastest-growing private sector enterprises in India, with two business divisions’ comprising Dairy and Renewable Energy under its flagship company Heritage Foods and Cattle feed business subsidiary, Heritage Nutrivet (HNL).
Presently Heritage’s milk and milk products have market presence in Andhra Pradesh, Telangana, Karnataka, Kerala, Tamil Nadu, Maharashtra, Odisha, NCR Delhi, Haryana, Uttar Pradesh and Uttarakhand. It has a total renewable energy generation capacity of 10.39 MW from both Solar and Wind for the captive consumption of its dairy factories.