Prataap Snacks Q3FY23 revenue up by 11% YoY to Rs 4.2bn

Prataap Snacks said that the revenue for the quarter ended 31 December 2022 was INR 4,264.5 million, a year-over-year (YoY) growth of 11%.

The Indore-based snacks food company has reported a profit after tax (PAT) of INR 58.2 million for the third quarter of the fiscal year 2023 (Q3FY23).

Prataap Snacks said that its diluted earnings per share (EPS) of INR 2.48 per share.

Amit Kumat — Prataap Snacks MD said: “We are pleased to report sustained growth with revenues higher by 11% yoy in Q3 and by 22% yoy on a YTD basis. We continue to enhance our distribution network through addition of touch points in focus markets as well as by optimising the existing network through better efficiency.

“Our subsidiary Avadh continued to report strong revenue growth. The EBITDA margin improved to 12% for the quarter, surpassing the margin performance of the parent company. We have witnessed softening of palm oil prices as well as reduction in prices of some other inputs.

“Benefits from the easing of input prices will fully accrue in ensuing quarters and we anticipate further positive impact on EBITDA margin going ahead.”

During the reported quarter, the Indian food manufacturer started production at its Kolkata facility, which will help it optimize its distribution in the region, said Amit Kumat. The company MD also revealed that plans for a facility in Jammu are moving ahead with land acquisition completed and orders placed for machinery.

Prataap Snacks operates a total of 14 manufacturing facilities in India. Its brands include Yellow Diamond, Avadh, and Rich Feast brands.