Regular demand, easing prices boosted earnings
10 Could 2024
1 minute learn
Venky’s India reported a 32.8% bounce in its fourth-quarter revenue on Friday, benefiting from robust demand in its poultry merchandise enterprise amid easing prices, reported Reuters.
The Pune-based poultry firm’s revenue rose to 335.1 million rupees ($4 million) within the quarter ended March 31, from 252.3 million rupees a 12 months in the past, it mentioned in an change submitting.
Venky’s poultry and poultry-product enterprise entails the manufacturing and sale of day-old chicks, and grownup broiler birds reared for consumption.
Its income from operations fell 14.1% to eight.96 billion rupees, nonetheless, a close to 16% drop in its complete bills helped in pushing up the margins.
Its enter prices, consisting of poultry feed components, broiler chicks and eggs, fell 22.2% year-on-year.
Income from its poultry enterprise rose practically 5%, whereas its mainstay oilseed enterprise fell 30%.
The oilseed enterprise, accounting for about 43% of Venky’s complete income, was impacted attributable to “unfavourable market circumstances”.
Venky’s really useful a dividend of seven rupees per share for fiscal 12 months 2024, topic to shareholders’ approval.
Shares within the poultry agency rose as a lot as 8% after the outcomes. The inventory dropped 21% within the March quarter.
($1 = 83.4876 Indian rupees)
