Parag Milk Foods Q4 flat at Rs 16cr; income up 20% at Rs 414cr

Dairy firm Parag Milk Foods, which recently raised Rs 750 crore through an IPO, today reported a flat net profit at Rs 16.09 crore for the quarter ended March.

Its net profit stood at Rs 16.08 crore in the year-ago period, the Mumbai-based company said.

Income from operations rose by 20 per cent to Rs 414.23 crore during the fourth quarter of last fiscal from Rs 346.28 crore in the corresponding quarter of the previous year.

During the entire 2015-16 fiscal, the company's net profit increased by 47 per cent to Rs 47.31 crore from Rs 32.2 crore in the previous year.
 

Income from operations rose by 14 per cent to Rs 1,645.13 crore from Rs 1,444.14 crore earlier.

Parag Milk Foods Chairman Devendra Shah said: "Our branded dairy products segment has grown by 30 per cent 2015-16 fiscal".

Gross profit margins have improved due to favorurable raw material prices, he added.

The company's Chief Financial Officer (CFO) Bharat Kedia said the company's debt stood at Rs 360 crore at the end of the March quarter.