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Hatsun Agro Products Limited released their Q1 results on Wednesday and reported a 54.2% jump in their net consolidated profits which reached ₹80.2 crore during Q1FY24 from ₹52 crore during the corresponding quarter in the previous fiscal. The revenue of the company witnessed a 6.8% increase from ₹2,014.6 crore to ₹2,150.6 crore.
The company declared an interim dividend of ₹6 per equity share (600%) on the fully paid-up equity shares of the face value of ₹1 per share. This is the first interim dividend declared by the Board for the financial year 2023-24. The company has fixed 27 July as the Record Date for payment of the interim dividend and said the interim dividend will be paid on or before August 18, 2023.
The Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) of Hatsun Agro Products Limited was up by 33.5% to ₹237.9 crore from ₹178.2 crore during Q1FY23. The margin of the company also improved from 8.9% to 11.1% during the quarter ending June 2023.
Earning Per Share (EPS) for Q1FY24 stood at 3.60 up from 2.36 during the corresponding quarter last fiscal.
Hatsun Agro Products Limited reappointed three directors R G Chandramogan, K S Thanarajan, and P Vaidyanathan. While K S Thanarajan and P Vaidyanathan are subject to immediate re-appointment, the date of reappointment of R G Chandramogan is kept as 1 March 2024.
R G Chandramogan has been in the dairy business for more than five decades and is awarded by Indian Dairy Association for his valuable contributions to the field. K S Thanarajan holds a Masters's in Economics from the University of Madras and has a wide 20 experience in the dairy industry. P Vaidyanathan is coming from a financial background and has more than 30 years of experience in finance functions.
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