Hatsun Agro Product’s expansion into the Andhra Pradesh market and overall growth in volumes have contributed to its net profit more than doubling during the fourth quarter .

For the ended March 31, the country’s largest private sector dairy company reported a net profit of ₹8.66 crore, up from ₹4 crore a year ago. Its total income stood at ₹771.41 crore during the period compared with ₹ 643.71 crore in the comparable quarter last year.

RG Chandramogan, Managing Director, Hatsun Agro, said the acquisition of a dairy in Andhra Pradesh in the second half of 2013-14 gave it access to new markets. Acquisition of a cattle feed plant and setting up of a new dairy plant in Tirunvelveli have started paying off from the fourth quarter. However, the overall performance during the year was impacted by depreciation and interest increasing, Chandramogan said.

Fiscal numbers

Hatsun Agro reported a 50 per cent drop in net profit in 2014-15 compared with the previous year. For the year ended March 31, its net profit stood at ₹ 39.15 crore, down from ₹81.68 crore in the previous year, while total income was ₹2,933 crore (₹2,493.54 crore).

Finance costs were up at ₹63.36 crore (₹40.67 crore) and depreciation ₹94.03 crore (₹64.97 crore).

The company has declared a second interim dividend of ₹1.20 a share of ₹1 taking the total interim dividend for the year to ₹1.80.

On the BSE, the company’s shares of ₹1 closed at ₹322.55 which is 5.40 per cent down over the previous close of ₹340.95.

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