Avanti Feeds Q3 net up 8% at Rs 37 cr

Avanti Feeds today reported a 8 per cent increase in consolidated net profit at Rs 36.54 crore for the December quarter on account of rise in income.
The company had posted a net profit of Rs 33.78 crore in the year-ago period.
Total income from operations during the quarter under review rose to Rs 413.11 crore from Rs 385.03 crore in the same period a year ago, the company said in a BSE filing.
The company's export sales rose to Rs 72.13 crore in the third quarter of the current fiscal as against Rs 44.47 crore in the year-ago period.

During the third quarter of the current fiscal, the firm divested its shrimp processing and exports division to its wholly-owned subsidiary Avanti Frozen Foods Pvt Ltd by way of slump sale.
Avanti Feeds is a leading manufacturer and exporter of prawns and fish feeds as well as shrimp processor. It has established a joint venture with Thai Union Frozen Products PCL, the world's largest seafood processors and leading manufacturer of prawn and fish feeds in Thailand.
Avanti has three prawn and a fish feed manufacturing unit, in Kovvur, Vemuluru in West Godavari District, Andhra Pradesh and Pardi in Valsad District, Gujarat, with a capacity of 90,000 tonnes per annum.