Packaged Foods company Dodla Dairy announced Q3FY24 & 9MFY24 results:
- Q3FY24:
- Operating Revenues at Rs 7,468 million in Q3FY24 as compared to Rs 6,754 million in Q3FY23 – registering growth of 10.6% YoY. The Company’s Domestic business grew by 13.3% YoY to Rs 7,007 million whereas, the International business revenues stood at Rs 461 million in Q3FY24
- EBITDA grew by 54.5% YoY to Rs 828 million in Q3FY24. EBITDA margin expanded by 315 bps YoY to 11.1%
- Profit After Tax grew by 16.8% YoY at Rs 436 million in Q3FY24. PAT margin stood at 5.5% in Q3FY24
- EPS for Q3FY24 stood at Rs 6.88 as compared to Rs 5.90 in Q3FY23
- 9MFY24:
- Operating Revenues at Rs 23,380 million in 9MFY24 as compared to Rs 20,877 million in 9MFY23 – registering growth of 12.0% YoY. The Company’s Domestic business grew by 13.6% YoY to Rs 21,789 million whereas, the International business revenues stood at Rs 1,588 million in 9MFY24
- EBITDA grew by 35.4% YoY to Rs 2,134 million in 9MFY24. EBITDA margin expanded by 158 bps YoY to 9.1%
- Profit After Tax grew by 20.2% YoY at Rs 1,199 million in 9MFY24. PAT margin stood at 5.1% in 9MFY24
- EPS for 9MFY24 stood at Rs 19.96 as compared to Rs 16.63 in 9MFY23
Commenting on the performance, Managing Director of Dodla Dairy, Dodla Sunil Reddy said, “It gives me immense pleasure to share that Dodla Dairy was able to reap the benefits of the peak 2023-24 flush season coupled with positive festive spending enthusiasm as anticipated. The Company continued to strengthen its procurement capabilities during the quarter achieving its highest procurement at 17.5 Lakh Liter Per Day (LLPD), registering a growth of 36.7% YoY. Dodla Dairy’s revenues grew by 12.0% YoY to Rs 23,380 million in 9MFY24. The Company Value Added Products (VAP) and Fat & Fat products sales continued their growth momentum clocking 15.3% YoY growth at Rs 6,402 million, thanks to a robust distribution network and strong brand recall. Dodla Dairy’s VAP sales pie expanded by 95 bps YoY to 28.0% of the overall revenues in 9MFY24.”
He also added, “During January 2024, the Company aired television commercials for the very first time on leading regional and digital channels to tap the festive vibes of Makar Sankranti and Pongal. Dodla Dairy’s team is actively working towards accelerating its go-to-market strategy leveraging its strong brand and constantly delivering consumer delight through its diverse product portfolio.”