Venky’s Q3 Results: Shares jump as profit more than doubles on stronger poultry realisations

Venky’s (India) Ltd delivered a strong set of results for the third quarter, with profitability improving sharply on the back of better realisations in its core poultry business.Net profit for the quarter surged to ₹48.6 crore, more than doubling from ₹20.4 crore in the corresponding period last year. Revenue rose 9% year-on-year to ₹960 crore, compared with ₹882 crore a year ago.Operating performance strengthened materially, with EBITDA rising to ₹69.6 crore from ₹29 crore in Q3 last year. As a result, EBITDA margin expanded to 7.3%, up from 3.3% in the year-ago quarter, reflecting improved operating leverage and pricing.The company said the Poultry and Poultry Products segment performed better during the quarter, aided by improved realisations from the sale of day-old chicks and grown-up birds. Performance in the Animal Health Products and Oilseed segments was described as satisfactory.Following the earnings announcement, shares of Venky’s (India) Ltd were trading at ₹1,654 on the NSE, up ₹53.60 or 3.35% as of 2:03 pm, after touching an intraday high of ₹1,715.Also Read: KPR Mill Q3 Results: Revenue, profit edge higher; interim dividend declaredVenky’s (India) is a diversified agri-based company with a strong presence in poultry and poultry products, animal health products, oilseeds, and processed foods.

Source link