Venky's
Venky's Q4 PAT slips 26 pc to Rs 57.37 cr
Mumbai: Poultry firm Venky's (India) on Tuesday reported a 26.35 per cent decline in net profit for the quarter ended March 31 at Rs 57.37 crore largely due to higher expenses.
The Pune-based firm had reported a PAT of Rs 77.90 crore in the corresponding quarter last fiscal. Its total income for the January-March quarter stood at Rs 1229.35 crore as against Rs 941.35 crore in Q4 FY2021, registering a 30.59 per cent growth.
The company's total expenses for the quarter stood at 1156.79 as against Rs 846.34 crore in Q4 FY2021, representing a rise of 36.68 per cent.
For the whole year FY2022 its PAT declined to Rs 164.78 crore from Rs 267.74 crore in FY2021, while the revenues increased to Rs 4400.29 crore from Rs 3116.63 crore, respectively.
"The overall financial performance of the company has improved during the quarter ended March, 2022 as compared to the December 2021 quarter. Realizations of poultry and poultry products segment have improved during the quarter ended March, 2022," the company said in a statement.
The company further said that the profitability of poultry and poultry products segment for the year ended March, 2022 has been impacted due to steep increase in prices of poultry feed ingredients as compared to the previous year.
While the average cost of maize has gone up by 32 per cent, soya meal has gone up by 78 per cent, it said.
During the year, the performance of animal health products and oilseed segments has been good for the year ended March, 2022, it added.
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