Heritage Foods reports Rs 26-cr Q3 ne

Hyderabad: City-based Heritage Foods Ltd posted a consolidated net profit of Rs 26 crore for the quarter ended December 31, 2020, a steep upswing of 122 per cent from Rs 11.71 crore for the same third quarter a year ago.

During the quarter, its total revenues stood at Rs 604.92 crore, a fall of 10 per cent from Rs 672.42 crore it clocked in the same period a year ago.

The EBIDTA was at Rs 77.92 crore as compared to Rs 34.12 crore for the third quarter of the previous fiscal, registering a growth of 128.37 per cent. The EBITDAmargin improved by 781 basis points to 12.88 per cent as against 5.07 per cent in previous year for the same period.

Brahmani Nara, Executive Director, Heritage Foods, said: "We are delighted to report good set of numbers during the quarter. We are excited to share that, we have further strengthened our valued added products basket by launching probiotic curd and Ashwagandha Milk loaded with ayurveda properties," she added. The total cash flows from sale of stake in Future Retail would be used to reduce the debt and further strengthen our marketing efforts, she added.