Dodla Dairy’s net profit increased 31.76 per cent to Rs 35.39 crore in the quarter ended December 2022, from Rs 26.86 crore in the preceding quarter ended December 2021, as per the company’s regulatory filing.
In the quarter gone by, sales increased 17.43 per cent to Rs 675.43 crore, up from Rs 575.19 crore in the preceding quarter ended December 2021, it said.
The Company’s Domestic business grew by 16.2 per cent year-on-year (YoY) to Rs 6,184 million whereas, the International business surged by 32.7 per cent YoY to Rs 570 million, as per the statement.
As per statement, average milk sales during Q3FY23 were at 10.5 LLPD as compared to 9.9 LLPD in Q3FY22, growing by 6.7 per cent YoY
Curd sales during Q3FY23 was at 260 MTPD as compared to 245 MTPD in Q3FY22, increasing by 5.9 per cent YoY, it stated.
VAP including fat & fat-based products contribution stood at 23.1 per cent of the overall dairy revenue during Q3FY23 as compared to 24.4 per cent contribution of the overall dairy revenue during Q3FY22
Commenting on the performance, Managing Director of Dodla Dairy, Mr. Dodla Sunil Reddy said, “Dodla Dairy continued to march towards the journey of operational excellence overcoming the sectoral headwinds. As a result, the operating revenue surged by 17.4 per cent YoY to Rs 6,754 Mn in Q3FY23. Thanks to the strong brand recall amongst the consumers, Dodla’s Value Added Products (VAP) sales contributed 23.1 per cent to the top line in Q3FY23.”
The Company undertook a price hike to partially mitigate the increase in the cost of milk production owing to the rise in fodder prices. Additionally, the extended monsoon in the southern states impacted the flush season for FY23, he said.
“It gives me immense pleasure to share that Dodla Dairy bagged ‘CII award for food safety 2022’ award from CII’s Food and Agriculture Centre of Excellence (FACE). Dodla Dairy is geared towards creating value for the esteemed stakeholders with its diversified product portfolio, excellence-driven corporate culture coupled with strong Balance Sheet position,” he added.
