Venky's India said on Monday its net profit during April to June declined by 13 per cent to Rs 61.8 crore from Rs 71.05 crore in the corresponding quarter of the previous fiscal year.
The profitability was lower due to higher input costs -- mainly poultry feed ingredients. Its revenue from operations rose by 20 per cent to Rs 905.3 crore in Q1 as against Rs 755.5 crore for the corresponding quarter ended June 30, 2018.
The company has undertaken expansion projects of solvent extraction plant and vegetable oil refinery at Srirampur in Maharashtra. Its construction work is progressing and the project is on schedule.
Venky's is also expanding its capacity of specific pathogen-free (SPF) eggs by setting up a new production unit at Patan in Maharashtra. The project is in the final stage of completion and the first batch of birds is expected to be housed by October 2019, the company said in a statement.
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