Hatsun Agro Product Ltd., India’s leading private sector dairy company announced its financial results for the quarter ended September 30, 2021.
Hatsun Agro reported a 25 per cent increase in net profit at Rs 82.09 crores for the second quarter ended September 30, against Rs 65.79 crores in same period last year. The dairy company's Q2 FY22 revenue rose by 23.24 per cent to Rs 1635.41 crores against Rs 1326.99 crores in same period last year.
R G Chandramogan, Chairman, Hatsun Agro Product Ltd. said, “We are happy to report a decent growth in revenues albeit little shorter to our expectations, due to unprecedented monsoon exceeding more than 10 percent from the normal, in the last few months, in the entire South India and Maharashtra. These markets account for 95 percentof our business.
"We are investing about Rs 450 crores in our business across new manufacturing facilities to expand capacities in ice cream, milk, curd, milk products and cattle feed and also in distribution, sales and marketing before the end of FY 2022. We will have enough capacities in all our Divisions for FY 2022-23.”
Hatsun Agro Product have also signed a power purchase agreement with Swelect Renewable Energy Private Limited HAP has entered into a fresh agreement with Swelect Renewable Energy Private Limited for purchase of solar power under captive user model. This Solar project which is expected to be commissioned by February 2022 is estimated to provide HAP around 1.45 crore units of electricity, annually, resulting in cost savings of Rs 3 crores.
(With inputs from PTI)
