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Packaged Foods company Dodla Dairy announced Q2FY24 & H1FY24 results:
Financial Results:
1. Operating Revenues: Dodla Dairy reported operating revenues of Rs 7,678 Mn in Q2 FY24, representing a growth of 10.4% YoY. The domestic business grew by 11.2% YoY to Rs 7,156 Mn, while international business revenues stood at Rs 521 Mn in Q2 FY24.
2. Value-Added Product Sales: The company's value-added product (VAP) sales, including fat and fat-based products, witnessed a growth of 13.1% YoY, reaching Rs 1,953 Mn in Q2 FY24. VAP sales contributed 26.1% to the overall revenues in Q2 FY24.
3. EBITDA and Profit After Tax: Dodla Dairy recorded a growth in EBITDA of 19.2% YoY, amounting to Rs 702 Mn in Q2 FY24. The profit after tax (PAT) increased by 10.5% YoY to Rs 436 Mn in the same period.
4. Milk Procurement and Sales: The average milk procurement during Q2 FY24 witnessed a significant YoY growth of 18.9%, reaching 17.0 LLPD. Average milk sales also saw a YoY growth of 5.8% to 10.9 LLPD.
Half-Yearly Results:
1. Operating Revenues: Dodla Dairy reported operating revenues of Rs 15,912 Mn for the first half of FY24, representing a growth of 12.7% YoY. The domestic business grew by 13.7% YoY to Rs 14,785 Mn, while international business revenues stood at Rs 1,127 Mn.
2. Value-Added Product Sales: The company witnessed a growth of 13.0% YoY in revenue from value-added products (VAP), including fat and fat-based products, reaching Rs 4,539 Mn in H1 FY24. VAP sales contributed 29.2% to the overall dairy revenue during this period.
3. EBITDA and Profit After Tax: The EBITDA grew by 25.6% YoY to Rs 1,306 Mn during H1 FY24, and the PAT increased by 22.1% YoY to Rs 786 Mn. The corresponding EBITDA margin was 8.2% for H1 FY24.
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