Venky's stock ends 8% lower post Q3 FY22 results

4 Feb 2022 , 04:50 PM

Venky’s India Ltd. reported consolidated revenue of Rs 1098.50 crore for the quarter ended December 2021 against Rs 931.68 crore for the previous corresponding quarter, up by 17.91% YoY. Its consolidated revenue for the 9M period ending December 2021 stood at Rs 3170.94 crore as against Rs 2175.28 crore for 9M ending December 2020, up by 45.78% YoY.

Venky’s scrip closed at Rs 2400 against the previous closing price of Rs 2,629.75, down by Rs 229.75 or 8.74%. It touched day’s high and low of Rs 2,657 and Rs 2,375.

Its PAT for the quarter ended December 2021 stood at Rs 21.63 crore as compared to Rs 106.50 crore for the previous corresponding quarter, recording a decline of 79.70% YoY. For the 9M-period ending December 2021, PAT stood at Rs 107.41 crore against Rs 189.84 crore for the 9M period ended December 2020, reflecting a downside of 43.42% YoY.

Total consolidated income for the quarter ended December 2021 stood at Rs 1108.86 crore against Rs 940.66 crore for the quarter ended December 2020, up by 17.88% YoY. TCI for the quarter 9M ending December 2021 stood at Rs 3197.56 crore as against Rs 2199.58 crore for the corresponding 9M period, up by 45.37% YoY.

The company’s profits and revenue suffered severely due to the steep rise in prices of key poultry feed ingredients, especially soya as it has witnessed an unexpected increase in the prices. Company’s Animal Health Products and Oil Segments have witnessed satisfactory growth during the quarter.