Dodla Dairy witnessed a remarkable surge of 8.5 percent in early trade on October 23, fueled by the company’s robust performance during the July-September quarter.
In the quarter under review, the company’s net profit demonstrated a substantial growth of around 11 percent year-on-year, reaching Rs 43.60 crore, as compared to Rs 39.40 crore in the corresponding period of the previous year. This impressive bottomline growth was bolstered by a significant 10.4 percent increase in revenues, amounting to Rs 767.70 crore. This surge in revenue was attributed to the robust expansion of both domestic and international business sectors.
As of 11:09 am, Dodla Dairy’s shares were trading 3.39 percent higher at Rs ₹694.80 on the National Stock Exchange, further affirming the market’s positive response to the company’s strong third-quarter performance.
“Dodla’s Value Added Products (VAP) and Fat & Fat products sales continued to display momentum with 13.1 percent on year growth at Rs 195.3 crore owing to deeper distribution channel penetration aided by strong brand recall,” Dodla Sunil Reddy, Managing Director at Dodla Dairy stated in an exchange filing.
