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Heritage Foods in Q1 faces revenue fall by 12.88%; profit rises to 55.1%
Saturday, 01 August, 2020, 14 : 00 PM [IST]
Our Bureau, Bengaluru
Heritage Foods Ltd, one of the leading private dairy players in India, in Q1 has witnessed a revenue dip by 12.88 per cent compared to the corresponding quarter last year which was at Rs 721.25 crore. However its net profit registered a 55.1% increase at Rs 29.23 crore as compared to Rs 18.84 crore in the corresponding Q1FY20.

Its EBIDTA was at Rs 57.65 crore as compared to Rs 48.80 crore in Q1FY20; registered a growth of 18.1%.

Commenting on the results, Brahmani Nara, executive director, Heritage Foods Ltd, said, “We are happy to support our farmers by procuring milk from all farmers during these trying times. We have ensured uninterrupted supplies to consumers in rural and urban areas, while maintaining all the safety procedures like social distancing from procurement to point of sales and sanitising the premises & vehicles on a regular basis.”

The 28-year-old company has two business divisions: Dairy and renewable energy and Cattle feed business through its subsidiary, Heritage Nutrivet Ltd (HNL). The company’s milk and milk products have market presence in Andhra Pradesh, Telangana, Karnataka, Kerala, Tamil Nadu, Maharashtra, Odisha, NCR Delhi, Haryana, Uttar Pradesh and Uttarakhand.
 
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