Heritage Foods Q2 net at RS 10.7 crore

Hyderabad: Dairy firm Heritage Foods Ltd has recorded a net profit of Rs 10.7 crore for Q2FY20. Net profit for H1FY20 stood at Rs 28.8 crore.

Total Revenue for Q2 was at Rs 682.7 crore as compared to Rs 621.2 crore in Q2FY19; registered a growth of 9.9 per cent, while EBIDTA was at Rs 25.2 crore.

For H1FY20, total revenue was at Rs 1406.5 crore as compared to Rs 1264.7 crore in H1FY19; registering a growth of 11.2 per cent. EBIDTA was at Rs 74.0 crore.

Commenting on the results, Brahmani Nara, Executive Director, said, "Our revenues grown by double digits during the first half of the year.

Volumes of both milk and value-added products are growing. Excessive rains and increase in milk prices have impacted margins, the same is going to be eased once winter starts during the third quarter."

She further said that, "Demand for dairy products is growing across the board and we believe that there are immense growth opportunities for organised and established players like Heritage."