Dodla Dairy reports Q4FY21 net profit at Rs 9.59 crore

Dodla Dairy, a leading dairy company in southern India, on Wednesday, reported a net profit of Rs 9.59 crore in the fourth quarter of fiscal 2021. The company had posted a net loss of Rs 1.94 crore in March quarter of fiscal 2020.

The company’s revenue from operations during Q4FY21 increased marginally to Rs 530.5 crore from Rs 527.45 crore, YoY. For full year FY 2020-2021, operating revenue was at Rs 1,944 crore as compared to Rs 2,139.4 crore in FY20, recroding a degrowth of 9.1 percent, YoY.

“I am pleased with our performance in the last fiscal with Operating revenue of Rs 19,440 mn which was impacted due to reduced demand caused by the Covid situation while margins and net profits perked up due to improved sales realisations and cost reductions,” said Dodla Sunil Reddy, Managing Director, Dodla Dairy.

The company’s average milk procurement during the quarter under review was at 10.85 LLPD compared to 11.20 LLPD in Q4FY20. Average milk sales were at 9.22 LLPD compared to 9.67 LLPD in Q4FY20.

Revenue from Value added products (VAP) at Rs 141.5 crore contributed 26.9 percent to the overall dairy revenue during Q4FY21, the company said in a regulatory filing.

“Going forward, we expect to continue on this growth path while striving to improve margins continuously,” Reddy added.

At the operating level, EBITDA during Q4FY21 jumped significantly to Rs 36 crore as compared to Rs 14.1 crore, YoY.

“Dodla will continue to focus on our core products including Milk & Curd while looking to expand the offerings to regions in South India where we are currently not established. We continue to work on value added products and we believe that this will further give a fillip to our product and margin profile in the future,” Reddy said.

Dodla Dairy, on June 28, had made a decent debut on the exchanges after it completed its Rs 520-crore initial public offering.

Its shares were listed at Rs 550 apiece, a premium of 28.50 percent to the issue price of Rs 428 on the National Stock Exchange (NSE).

The public offer of Dodla Dairy was subscribed 45.62 times between June 16-18.

On Wednesday, the shares of Dodla Dairy ended 0.38 percent lower at Rs 620.75 apiece on the BSE.