Heritage Foods reported a strong set of numbers for the quarter ended December 2018 on the operating front. Revenue for the quarter stood at Rs618.8cr, up 6.9% yoy. Gross margin for the quarter expanded 116bps yoy to 78.7%. EBITDA grew 19.6% yoy to Rs45cr with an EBITDA margin expansion of 77bps yoy to 7.3%. Led by strong EBITDA growth, PAT jumped 21.2% yoy to Rs20.3cr.
Revenue of the dairy segment was up 6.3% yoy and EBIT of the segment was up 20.3% yoy.
Feed segment reported 5.9% yoy revenue growth with an EBIT loss of Rs1.5cr.
Depreciation for the quarter increased 19.5% yoy and interest cost was up 4.7% yoy.
Other income stood at Rs2.1cr against Rs1.1cr in Q3FY18.
Tax rate for the quarter stood at 33.7% against 31.4% in Q3FY18.
Heritage Foods Ltd is currently trading at Rs. 493.50, up by 19.15 points or 4.04% from its previous closing of Rs. 474.35 on the BSE.
The scrip opened at Rs. 479 and has touched a high and low of Rs. 493.50 and Rs. 467 respectively. So far 1,82,742 (NSE+BSE) shares were traded on the counter. The stock is currently trading above its 200 DMA.
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