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Prataap Snacks’ PAT for H1 of FY18 grows 223% on a year-on-year basis
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Saturday, 16 December, 2017, 08 : 00 AM [IST]
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Our Bureau, New Delhi
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Prataap Snacks Ltd (PSL), a leading Indian snack food company, announced its financial results for the half-year ended September 30, 2017.
In the first half (H1) of financial year (FY) 2018, the company reported the following:
• Total income of Rs 4,956 million, higher by 15 per cent year-on-year (y-o-y)
• Earnings before interest, taxes, depreciation and amortisation (EBITDA) of Rs 460 million, an increase of 131 per cent y-o-y
• EBITDA margins expanded from 4.68 per cent to nine per cent
• Profit after tax (PAT) was higher by 223 per cent on a y-o-y basis to Rs 226 million
• Earnings per share (EPS) (diluted) for the period was Rs 10.85 (not annualised)
Commenting on the H1 FY18 performance, Amit Kumat, managing director and chief executive officer, Prataap Snacks Limited, said, “It gives me immense pleasure to share the maiden financial and operating performance of Prataap Snacks as a listed entity.”
“In H1 of FY18, despite temporary headwinds due to Goods and Services Tax (GST) implementation, the company has delivered a 15 per cent growth in revenues,” he added.
“We continue to expand our distribution network and range of products. We are in the process of commercialising our entry into sweet snacks, through the launch of Yum-pie, which will complement our offerings in the savoury segment,” Kumat said.
“Currently, the company is navigating the potato supply crunch and increased duties on inputs (palm oil), but we are hopeful of a recovery to end the financial year on track with our expectations,” he added.
Highlights
• Prataap Snacks Ltd launched its initial public offer (IPO) between September 22 and 26, 2017. The issue for 5.14 million shares, including a fresh issue of 2.13 million shares, was priced at Rs 938 per share. The Rs 4,816 million issue was oversubscribed 47 times on an overall basis and listed on the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) at a premium of approximately 33 per cent to its issue price of Rs 938 per share
• In November 2017, the company launched and commenced commercial production of Yum-Pie, a range of chocolate based confectionery snacks, under the brand name Rich Feast. Yum-Pie has been launched in three delicious flavours, viz Mixed Fruit, Orange and Strawberry. The production of Yum-Pie is being undertaken under PSL’s wholly-owned subsidiary Pure N Sure Food Bites Private Limited
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