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FMCG firm Tasty Bite Eatables announced Q3FY23 results:
- Q3FY23 & 9MFY23:
- The Company clocked revenue of Rs 1,088 million with a YoY growth of 43%. For nine months ended December 2022, revenues were Rs 3,765 million with a YoY growth of 34%.
- All businesses including the branded, private label, and Food Service registered robust growth and have surpassed pre-Covid performance levels.
- YoY quarterly growth is 76% in Consumer business (exports to the US and other markets). For the nine months that ended December 2022, revenue grew by 39% over last year. This Spurt in growth was primarily driven by inventory built up in last year in export markets, especially in the USA.
- YoY quarterly growth is 8% in the Food Service business. For the nine months that ended December 2022, revenue grew by 28% over last year.
- Material costs for the quarter is 64% of revenues. This is 1.5% lower than the same quarter last year due to yield improvement initiatives taken by the Company.
- This quarter and YTD December EBITDA at Rs 146 million and Rs 559 million, improved by 7.8% and 3.8% as compared to last year same quarter and nine months' same period. This is primarily driven by lower material costs and overheads.
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