Kwality Dairy, the Indian dairy processor, has posted higher first-half sales and earnings.
The company booked profit after tax of INR734.9m (US$11.1m) in the six months to the end of September, up from 4% from INR706.7m a year earlier. EBITDA grew 20.1% to INR1.88bn.
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Net sales increased 8.4% to INR2.84bn.
MD Sanjay Dhingra said: “The financial results for this quarter are in line with the company’s strategy of achieving profitable growth. Our persistent focus on customers and quality of our products has helped us to take on the margin pressures, which resulted in the overall positive performance of the company. We are aggressively eyeing the retail market now which is sure to further propel the growth of the company.”
The company, which has six milk processing units in Uttar Pradesh, Haryana and Rajasthan, sells a range of products including ghee, lassi and curd, to retail customers under brands such as Dairy Best. It is in the process of launching value-added products such as flavoured milk, milk sold in Tetra Paks, cheeses in numerous variants and table butter.
CFO Sunit Shangle said: “We are very happy with the earnings, which is a reflection of our persistent focus on maintaining the highest quality standards along with a robust distribution system. We saw great momentum across the whole business, in our geographies and market segments this quarter. Our aim to expand our reach has been a step in the right direction and is sure to bring more impressive results in the times to come. The work at our plant is on full momentum and we are confident to have the same ready as per plan. Going forward we see better margins as we intend to introduce new value added products across geographies in phased manner.”
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