Dairy products maker Hatsun Agro Products has crossed the Rs 2,000 crore sales mark during the quarter ending June 30, 2022, for the first time.
The city-based company reported revenues of Rs 2,014.60 crore for the quarter ending Jun 30, 2022, as against Rs 1,538.78 crore registered during the corresponding quarter previous year.
Strong sales recovery in the domestic market post the COVID-19 pandemic with good summer sales led to the highest ever quarterly sales volume, RG Chandramogan, Chairman of Hatsun Agro Products said in a statement.
The profit after tax for the quarter under review stood at Rs 51.95 crore as compared to Rs 58.33 crore registered in the corresponding quarter the previous year.
"We are happy to report good growth in revenue and crossing Rs 2,000 crore sales mark for the first time in a quarter. All our business segments did well with our leading brands registering healthy sales growth. Hatsun Agro Products' retail expansion in the last two years helped us reach customers in new markets like Maharashtra, Odisha, West Bengal, and Madhya Pradesh and also supported the existing strong base in South India," Chandramogan stated.
Hatsun Agro Products in the last financial year invested about Rs 450 crore across new manufacturing facilities for capacity expansion in ice cream, milk, curd, milk products, and cattle feed.
"The new capacities will further support our sales plans for FY 2022-23. Considerable investments have also been made to strengthen distribution, sales, and marketing of our brands," he asserted.
The company commenced exports of its popular Arun ice cream brand to Singapore and Maldives in the last quarter. It has plans to further widen the international reach of Arun ice creams, the statement added.