Hatsun Agro shares jump 10% after strong Q4 results

Shares of Hatsun Agro Product went up 10% after the company did well in its quarter four results for the money year 2023-24 (Q4FY24).

On Monday, the dairy company reported revenue from operations in Q4FY24 at Rs 2,046 crore as against Rs 1,789 crore in Q4FY23, showing a growth of 14.38 percent year-on-year (Y-o-Y).

As of 11:45 am, the shares were trading 10.10% higher at ₹1,127.70 on NSE.

It recorded Ebitda at Rs 231 crore in Q4FY24 as against Rs 158 crores in Q4FY23, a growth of 46.64 percent. The company’s net profits went up by 108 percent Y-o-Y to Rs 52 crores in the March quarter versus Rs 25 crore in the same quarter in the last year.

The company said in a statement that its milk procurement grew by 39.04 percent in FY24 over FY23.

“HAP in the last financial year, had invested about Rs.550 crores across new manufacturing facilities for capacity expansion in Curd and Milk Products and in market assets. The new capacities will further support our sales plans for FY 2024-25. Considerable investments have also been made to strengthen distribution, sales and marketing of our brands,” the management said.

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On full year basis, the company’s revenues from operations recorded a jump of 10.26 percent Y-o-Y to Rs 7,990 crore in FY24 as against Rs 7,246 crore in FY23. The net profits also went up by 61 percent to Rs 267 crore in FY24 versus Rs 165 crore in FY23.