Heritage Foods Limited has posted a consolidated net profit of ₹20.16 crore for the quarter ended March compared with the ₹19.85 crore in the year-earlier period. Total income rose 15.02% to ₹706.40 crore (₹614.12 crore) while revenue from operations was 13.06% higher at ₹635.02 crore (₹561.62 crore). For the full fiscal, the net profit of the firm was ₹82.59 crore or an increase of 31.65% over the ₹62.73 crore of 2017-18. Total income for the year declined to ₹2,654.86 crore (₹2,776.46 crore). Revenue from operations were at ₹ 2,514.75 crore or an increase of 5.95% from the previous fiscal’s ₹2,373.42 crore.
Executive director Brahmani Nara said the company had expanded the value-added products’ basket during the fiscal by launching a new range of health drinks. Its new plant near Mumbai for manufacturing flavoured yogurt and deserts, which is a joint venture with French dairy major Novandie, should be ready during the current financial year, she added.
The board of directors have recommended a dividend of ₹2 per share (face value of ₹5 each). Heritage Foods shares gained 4.94% on Wednesday to close at ₹475 on the BSE.