Prabhat Dairy H1 sales, earnings rise
Prabhat Dairy saw top and bottom lines improve year-on-year
Prabhat Dairy, the Indian dairy group, has booked an increase in sales and earnings for the first half of its financial year.
The company, which floated on the Bombay Stock Exchange in August, posted net income of INR52.4m (US$795,000) for the six months to the end of September, more than triple the INR18.8m it generated a year earlier.
Profit from operations before other income, finance costs and exceptional items stood at INR188.1m, versus INR110m the previous year.
Net sales came in at INR4.66bn. In the first half of 2014/15, Prabhat Dairy ran up net sales of INR4.04bn.
When Prabhat floated, the company said at the time it would use part of the funds to expand its production capacity. "The fund will be used to increase our manufacturing capacities for our existing dairy products and also develop manufacturing capabilities for new products," CEO and MD Vivek Nirmal said in a statement.
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