Heritage Foods nets ₹26 cr profit in Q3

Dairy company Heritage Foods Ltd has posted a profit of ₹26 crore for the third quarter ended December 31, 2020, up 122{f08ff3a0ad7db12f5b424ba38f473ff67b97b420df338baa81683bbacd458fca} as against ₹11.71 crore in Q3FY20.

Revenue from operations was at ₹604.92 crore as compared to ₹672.42 crore in Q3FY20.

The company profit was up at ₹123.91 crore for the nine months ended December 2020 compared to ₹40.49 crore in 9MFY20, registering an increase of 206{f08ff3a0ad7db12f5b424ba38f473ff67b97b420df338baa81683bbacd458fca}.

Revenue from operations was lower at ₹1,853.75 crore as compared to ₹2,073.26 crore in 9MFY20.

Brahmani Nara, Executive Director, in a statement said, “We are delighted to report a good set of numbers during the quarter. We have strengthened our valued-added products basket by launching probiotic curd and Ashwagandha Milk loaded with Ayurveda properties. Total cash flows from the sale of a stake in Future Retail would be used to reduce the debt and further strengthen our marketing efforts.”