Dodla Dairy declines 3.5% after Q3 PAT falls 33% yoy to Rs26.9cr

21 Jan 2022 , 09:52 AM

Dodla Dairy Ltd., one of India’s leading integrated dairy companies, has announced its financial results for the third quarter ended December 31, 2021.  Operating Revenues stood at Rs575.2cr in Q3FY22 as compared to Rs497.2cr in Q3FY21. EBITDA was at Rs52cr in Q3FY22 as compared to Rs70.3cr in Q3FY21.

The company’s Profit After Tax stood at Rs26.9cr in Q3FY22 as compared to Rs41.6cr in Q3FY21, a decrease of 33.33% yoy. EPS for Q3FY22 was 4.5 as compared to 7.5 in Q3FY21.

“I am pleased with the performance of this quarter which was in line with our stated goals. We had revenue growth of 16% yoy and our ability to make inroads and penetrate in new geography which hitherto was untapped is a great testament to our procurement skills. We are extremely pleased to announce that we reached a milestone of 1 lakh litres of daily milk procurement in Maharashtra in the quarter ended December 31, 2021,” Managing Director of Dodla Dairy, Dodla Sunil Reddy, said.

He also added- “While the outlook for the future remains steady, the onset of the third wave due to Omicron has had some impact in the collections in the current month but the Company is confident of balancing the situation with price increases.”

Operational Highlights for the Quarter Ended December 31, 2021:

• Average milk procurement during Q3FY22 was at 12.4 LLPD compared to 10.7 LLPD in Q3FY21 and 12.8 LLPD in Q2FY22.
• Average milk sales during Q3FY22 were at 9.9 LLPD compared to 8.9 LLPD in Q3FY21 and 9.5 LLPD in Q2FY22.
• Curd sales during Q3FY22 was at 245 MTPD compared to 201 MTPD in Q3FY21 and 252 MTPD in Q2FY22.
• Revenue from Value added products (VAP) and fat & fat-based products was at Rs138cr contributing 24.4% to the overall dairy revenue during Q3FY22 compared to Rs114.3cr contributing 23.1% to the overall dairy revenue during Q3FY21.

At around 9.55 am, Dodla Dairy Limited was trading at Rs536.35 per piece down Rs19.55 or 3.52% on the BSE.