Prataap Snacks Ltd. (PSL), a leading Indian Snack Foods Company has announced a net profit of Rs8.44cr, which declined by 29.61% in the quarter ended September 2020 as against Rs11.99cr during the previous quarter ended September 2019.
The sales of the company also dropped by 15.74% to Rs325.16cr in the quarter ended September 2020 as against Rs385.88cr during the previous quarter ended September 2019.
The stock is currently trading at Rs605.30, down by Rs3.25 or 0.53% from its previous closing of Rs608.55 on the BSE.
In Q2 FY21 (QoQ basis):
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Revenue of Rs3,267million, registering a growth of 66.9% QoQ
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Operating EBITDA of Rs233.5 million, higher by 183.4% QoQ
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PAT stood at Rs84.4, higher by 241.6% QoQ
In Q2 FY21 (YoY basis):
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Revenue of Rs3,267million, registering de-growth of 15.8% yoy
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Operating EBITDA of Rs233.5 million, translating to a margin of 7.1%
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PAT stood at Rs84.4 million with margins at 2.6%
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EPS (Diluted) stood at Rs. 3.60 per share
Commenting on the Q2 & H1 FY21 performance, Mr. Amit Kumat – MD, Prataap Snacks Limited said; “With the resumption of activity across the country, we have witnessed a strong recovery in performance in Q2 compared to Q1. In Q2, we have smoothed out all production and supply side disruptions and ramped up operational capacity across all plants. We continue to experience high volatility in the price of Palm oil, a key raw material, and are actively working to mitigate the impact through process re-engineering and cost optimization initiatives.”
Demand is yet to fully rebound as most schools, colleges and multiplexes remain closed while there is limited traffic at railways stations and highways. We expect further recovery and expect demand to revert to pre-COVID levels in the third quarter,” Amit Kumat added.
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