Rise in procurement cost pulls down Hatsun Agro Q3 net by 3%

During the quarter under review, revenue from operations increased by 7% to ₹1,695 crore

January 19, 2023 08:51 pm | Updated 08:51 pm IST - CHENNAI

Dairy products maker Hatsun Agro Product Ltd. (HAPL) standalone net profit for the quarter ended December contracted by 3% to ₹46.43 crore due to increase in milk procurement cost.

“Though we had hiked the selling price of our products across the board, we could not offset the rise in milk procurement cost of about 16% in the quarter to ₹1,203 crore,” said a company official.

During the quarter under review, revenue from operations increased by 7% to ₹1,695 crore, the company said in a regulatory filing.

Shares of the company gained ₹6.70, or 0.75%, to close at ₹897.15 on BSE Thursday.

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