Hatsun Agro Product Ltd has clocked a net profit of Rs 57.13 crore for the quarter ending March 31, 2021.
The dairy products-maker registered a net profit of Rs 7.95 crore during the corresponding quarter last year. For the year ending March 31, 2021, profits grew to Rs 246.35 crore from Rs 112.27 crore registered a year ago.
The total income for the quarter under review surged to Rs 1,570.37 crore from Rs 1,262.55 crore registered last fiscal.
The total income for the year ending March 31, 2021, stood at Rs 5,575.50 crore against Rs 5,316.98 crore registered last fiscal.
Commenting on the results, RG Chandramogan, Chairman, Hatsun Agro Product Ltd, said, “We are very happy to share that we have closed FY21 on a strong footing, recording our highest ever revenue and profit numbers. Our branded liquid milk sale has maintained its growth trajectory and other brands contributed to the overall sales growth as well. We do expect this growth rate to continue and improve in the coming quarters. In FY21 we have expanded our geographical reach with the opening of a dairy plant in Solapur, Maharashtra, and Hatsun Agro Product Ltd reached an important milestone of India’s largest network of retail outlets present across many states.”
“Our ‘HAP Daily’ retail outlets reported increased sales during the pandemic period due to seamless product availability and distribution. HAP Daily retail volumes increased by over 50% during the year with increased footfalls. Taking note of this trend, we have introduced new products like ice cream cakes, chocolates under the brand name ‘HAP’ that are being exclusively retailed through ‘HAP Daily’ outlets. We have also rolled out ‘HAP Kulfi’ range of products in select areas and the response has been encouraging. ‘HAP Kulfi’ will be made available at all ‘HAP Daily’ outlets by the end of this quarter,” he further added