Avanti Feeds soars after Q4 PAT rises 21% YoY to Rs 84 cr

Avanti Feeds jumped 16.17% to Rs 467.80 in a weak market after the company reported a 21% jump in consolidated net profit to Rs 84.35 crore on a 21.3% rise in revenue from operations at Rs 1332.23 crore in Q4 FY22 over Q4 FY21.

Sequentially, the net profit surged by 109.8% from Rs 4,019.32 while revenue from operations were up by 24.6% from Rs 1068.92 crore in Q4 FY22 over Q3 FY22. Consolidated profit before tax (PBT) surged 82.1% quarter on quarter and 30.1% year on year to Rs 120.80 crore in the quarter ended 31 March 2022.

On a segmental basis, revenues from Shrimp Feed rose 17.67% to Rs 1036.28 crore in Q4 FY22 as against Rs 880.65 crore in Q4 FY21. Revenues from Processed Shrimp jumped 40.7% to Rs 293.92 crore in Q4 FY22 as against Rs 208.85 in Q4 FY21.

On full year basis, the animal feeds company reported a 38.5% decline in net profit to Rs 221.57 crore despite of a 22.8% increase in revenue from operations to Rs 5035.95 crore in the financial year ended 31 March 2022 over the financial year ended 31 March 2021.

The board recommended a dividend of Rs 6.25 per equity share for the financial year ended 31 March 2022.

Avanti Feeds is a manufacturer of prawn and fish feeds, and shrimp processor and exporter. The company's principal products/services are shrimp feed and processed shrimp.

Meanwhile, the barometer, the S&P BSE Sensex was down 1,122.87 points or 2.08% at 52,965.52 amid weak global cues.

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