Dodla Dairy touches an all-time high after achieving revenue target for first time
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The dairy maker’s revenue from operations increased 14.8 percent to Rs 823 crore in Q1FY24 compared to the same period a year before, while its net profit jumped 40 percent YoY to Rs 35 crore for the quarter.
The dairy product maker’s stock also touched an all-time high of Rs 898.90 earlier but slipped soon after
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Dodla Dairy shares touched an all-time high of Rs 898.9 in early trade on July 24 after the company achieved its quarterly revenue milestone of Rs 800 crore for the first time in the April-to-June quarter.
The shares were trading at Rs 870 up 13.29 percent at 11.49 am on the National Stock Exchange following a 40 percent YoY increase in net profit and over 14 percent jump in revenue for the June quarter. The stock also touched an all-time high of Rs 898.90 earlier but slipped soon after.
Around 20 lakh shares changed hands on the exchanges, which was 10 times more than the company’s monthly-traded average.
The dairy maker’s revenue from operations increased 14.8 percent to Rs 823 crore in the April-to-June quarter compared to the same period a year before, the company said in an exchange filing on July 21. The increase in operating revenue was on account of a surge in value-added products and fat product sales during the quarter, which was aided by an extended summer season, a diversified product portfolio, and strong brand recall, a press release from the company added.
Net profit for the company jumped 40 percent year-on-year (YoY) to Rs 35 crore in Q1FY24. Operating profit margin or earnings before income tax depreciation and amortisation margins increased 104 basis points year-on-year to 7.3 percent in Q1FY24. Dodla Dairy margins improved as milk prices, raw material costs, and other expenses declined during the quarter.
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The company’s milk sales increased 6.1 percent in Q1FY24 compared with the same period a year ago. Its curd sales grew 3.1 percent YoY during the same period.
Dodla Dairy procures, processes, and sells milk and milk products. Its products consist of milk, butter, ghee, curd, paneer, flavoured milk, lassi, ice cream and milk-based sweets.
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