Dodla Dairy reports 152.6% growth in FY21 profit after tax at Rs1.26bn

Dodla Dairy, a Hyderabad-based dairy company, has reported a profit after tax of INR 1.26 billion in the fiscal year 2021 (FY21) ended 31 March 2021, a 152.6% growth year-over-year (YoY) compared to INR 499 million in FY20.

However, the Indian dairy producer’s operating revenue for FY21 fell by 9.1% to INR 19.44 billion compared to INR 21.39 billion in FY20.

For the fourth quarter of the fiscal year 2021 (Q4FY21), Dodla Dairy reported a profit after tax of INR 96 million compared to a loss of INR 19 million in Q4FY20.

Operating revenues in Q4FY21 for Dodla Dairy stood at INR 5.3 billion, which remained flat when compared to revenues of INR 5.27 billion reported in Q4FY20.

The Indian dairy company said that its average milk procurement during Q4FY21 was at 10.85 lakh liters of milk per day (LLPD), in comparison to an average milk procurement of 11.20 LLPD in the same quarter of the previous fiscal year.

Dodla Dairy reports 152.6% growth in FY21 profit after tax at Rs 1.26bn. Photo courtesy of Dodla Dairy.

Average milk sales for Dodla Dairy during Q4FY21 were at 9.22 LLPD, which is lesser than 9.67 LLPD of milk sold by the company in Q4FY20.

On the other hand, curd sales for the dairy producer were at 249.83 metric tonnes per day (MTPD) during Q4FY21, compared to curd sales of 253.51 MTPD in Q4FY20.

Dodla Dairy procures milk from five states and its dairy products are available in 11 states. The company has 94 milk chilling centers, and also has operations in Uganda and Kenya.

Dodla Sunil Reddy – Managing Director of Dodla Dairy said: “I would like to place on record my heartfelt thanks to all the investors who reposed faith in Dodla by subscribing in the IPO. I am pleased with our performance in the last fiscal with Operating revenue of Rs. 19,440 mn which was impacted due to reduced demand caused by the Covid situation while margins and net profits perked up due to improved sales realizations and cost reductions. Going forward, we expect to continue on this growth path while striving to improve margins continuously.

“Dodla will continue to focus on our core products including Milk & Curd while looking to expand the offerings to regions in South India where we are currently not established. We continue to work on value added products and we believe that this will further give a fillip to our product and margin profile in the future.”