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Prataap Snacks reports healthy performance in Q2 as revenue grows 13% yoy; stock jumps 3%

The net profit increased 74.05% to Rs14.69cr in the quarter ended September 2021.

November 12, 2021 2:09 IST | India Infoline News Service
Prataap Snacks
Prataap Snacks Ltd. (PSL), a leading Indian Snacks Food Company has announced its financial results for the quarter and half year ended 30th September 2021.

The net profit increased 74.05% to Rs14.69cr in the quarter ended September 2021. The net profit of the company stood at Rs8.44cr during the previous quarter ended September 2020, the company said in the filing.

The stock is currently trading at Rs736 up by Rs22.7 or 3.18% from its previous closing of Rs713.30 on the BSE.

The sales also rose 12.95% to Rs367.27cr in the quarter ended September 2021 as against Rs325.16cr during the previous quarter ended September 2020.

Commenting on the Q2 & H1 FY22 performance, Mr. Amit Kumat – MD, Prataap Snacks Limited said; “I am pleased to share that we have delivered growth of 13% in revenues during the quarter. As economic activities have regained momentum, we witnessed healthy recovery across several product categories with sales volumes surpassing pre-Covid levels. Our distribution channels have now normalised as restrictions in most parts of the country have eased considerably, except re-opening of primary schools. This has led to a smart recovery in impulse purchases resulting in higher volumes for most of our products. Rings which is primarily consumed by children has witnessed improvement both on a QoQ and YoY basis but is yet to achieve its pre-covid levels.”

“We have witnessed a sharp rise in input prices and transportation costs which have contributed to cost pressures. Prices of palm oil, which we had indicated in the previous quarter, remain elevated. In addition to this, we are witnessing escalation in other materials such as packaging film and corrugated boxes. Higher sales volume this quarter, improved distribution efficacy on account of tele-calling as well as gains from the progressive implementation of direct distribution have helped to counter the adverse impact on margin,” the company’s MD said.

“We have taken several initiatives to grow our topline and strengthen our margins in adverse conditions and we are well placed to benefit from economic recovery. Further, our cost mitigation efforts will ensure sustained benefits even beyond reversal of increased inputs costs.  With CAPEX initiatives in place and a strong balance sheet position we are in a healthy position to deliver sustained growth and value addition over the medium to long term,” he added.

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