Umang Dairies advances as net loss narrows in Q2

Umang Dairies rose 3.42% to Rs 72.50 at 9:46 IST on BSE after the company reported net loss of Rs 1.18 crore in Q2 September 2017, compared with net loss of Rs 2.89 crore in Q2 September 2016.

The result was announced after market hours yesterday, 8 November 2017.

Meanwhile, the S&P BSE Sensex was up 171.56 points or 0.52% at 33,390.37.

On the BSE, 300 shares were traded on the counter so far against the average daily volumes of 6,091 shares in the past two weeks. The stock had hit a high of Rs 72.50 and a low of Rs 71.90 so far during the day.

Umang Dairies' revenue from operations rose 16.02% to Rs 59.60 crore in Q2 September 2017 over Q2 September 2016. Revenue from operations includes conversion charges received by the company towards contract manufacturing activities.

Despite a decent growth in sales volume/value, the bottom line was adversely impacted during the quarter due to increase in prices of milk.

Umang Dairies is a dairy product manufacturing company. It makes skimmed milk powder (SMP), whole milk powder, dairy creamers, dairy whiteners, tea & coffee premixes, pure ghee, fresh cream, and butter, etc.

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