Hatsun Agro Products announced Q2FY23 results:

• Q2FY23 Revenues up by 7.35% and H1FY23 Revenues up by 18.81%
• Q2FY23 PAT down by 48.25% and H1FY23 PAT down by 32.75%
• FY23 Vs FY22:
  • Sales registered in Q2FY23 was Rs.1747.72 crore as against Rs.1627.99 crores in Q2FY 22 registered a growth of 7.35%
  • Sales registered in H1FY23 was Rs.3762.33 crore as against Rs.3166.77 crore in H1FY22 registered a growth of 18.81%
  • PAT in Q2FY23 was Rs.42.48 crore as against Rs.82.09 crore in Q2FY22 registering a decline of 48.25%
  • PAT in H1FY23 was Rs.94.43 crore as against Rs.140.04 crore in H1FY22 registering a decline of 32.75%

Mr. R G Chandramogan, Chairman, of Hatsun Agro Product Ltd said, “the price increase of milk has been effected only from August 12th, 2022 and hence the benefit has been realised partially in this quarter. The benefit of cost increase will be realised in full in the quarters to come. Further, the sales growth recorded for the half year i.e., from April-September for the FY 2022 - 23 period was about 18.81% though Q2 of FY 2022 - 23 growth was only at 7.35%. The reason for Q1 FY 2022 - 23 growth at about 31% when compared with the previous year's Q1 revenue was due to the normal ice cream sales in the Q1 for FY 2022 - 23 and the poor ice cream sales in the Q1 FY 2021 - 22 on account of COVID situation; Also, the Q2 (FY 2022 - 23) procurement and sales got affected due to unprecedented rains in Q2 of FY 2022-23”.

Result PDF