Avanti Feeds PAT gows 16% YoY to Rs 72 cr in Q3 FY24

The animal feed manufacturer's net profit rose 16.04% to Rs 72.47 crore in Q3 FY24 as compared with Rs 62.45 crore in Q3 FY23.

Revenue from operations increased 13.66% to Rs 1,253.23 crore in Q3 FY24 as compared with Rs 1,102.58 crore in Q3 FY23.

Profit before exceptional item and tax rose 18.07% YoY to Rs 115.71 crore in the quarter ended 31 December 2023.

Total expense rose 13.35% to Rs 1,170.78 crore in Q3 FY24 over Q3 FY23. Cost of material consumed was at Rs 957.37 crore (up 15.71% YoY) while employee benefit expense stood at Rs 47.09 crore (up 13.66% YoY).

On nine-month basis, the company's net profit jumped 36.55% to Rs 253.07 crore despite on 2.29% rise in revenue from operations to Rs 4,085.38 crore in 9M FY24 over 9M FY23.

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.

Shares of Avanti Feeds rose 0.33% to Rs 554.50 on the BSE.

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