Dodla Dairy Q2FY23 profit after tax surges by 34% to Rs 39.4cr
Dodla Dairy has reported a profit after tax of INR 39.4 crores for the second quarter of the fiscal year 2023 ended 30 September 2022 (Q2FY23), an increase of 34.2% reduction, compared to a profit after tax of INR 29.4 crores made in the same quarter of FY22.
The earnings per share (EPS) of the Hyderabad-based dairy company for Q2FY23 was INR 6.58, compared to INR 4.9 in Q2FY22.
Dodla Dairy said that its operating revenues for Q2FY23 grew by 22.8% to INR 695.3 crores compared to INR 566.4 crores in Q2FY22. Its domestic business saw a 20.1% year-over-year (YoY) increase in operating revenues to INR 643.5 crores, while there was a 70.1% growth in its international business to INR 51.9 crores.
According to the Indian dairy manufacturer, the average milk procurement during the reported quarter was at 14.3 lakh liters per day (LLPD), compared to 12.8 LLPD in Q2FY22.
Average milk sales during Q2FY23 stood at 10.9 LLPD, in comparison to 9.5 LLPD in Q2 FY22.
Commenting on Dodla Dairy Q2FY23 results, Dodla Sunil Reddy — Dodla Dairy Managing Director said: “Dodla Dairy’s operating revenue grew by 22.8% YoY to INR 6,953 Mn supported by gradual rise in the selling prices coupled with strong demand of milk and value-added products during the festive season.
“The Company successfully navigated multiple sectoral headwinds including Lumpy Skin Diseases (LSD) outbreak amongst cattle impacting the milk procurement, rise in material & packaging cost and inflationary economic trend.
“Dodla Dairy remains committed to strengthen it procurement network in its existing states, continue to scout for organic and inorganic growth opportunities without compromising its existing Balance Sheet strength and create long-term value for the esteemed stakeholders.”