Venky’s India’s Q4 profit drops

The Pune-based poultry company's profits dropped to USD 1.6 million in the quarter ended March 31 from the year-ago USD 3.9 million.

aviNews Asia

Venky’s India posted a 60% drop in Q4 profit, as its poultry business margins shrank due to lower price realizations.

The Pune-based poultry company’s profits dropped to USD 1.6 million in the quarter ended March 31 from the year-ago USD 3.9 million, Reuters reported.

• Its poultry and poultry products business, which accounts for about 54% of the total revenue, reported a 89% drop in profit before tax and interest.
• The poultry business is involved in the production and sale of broiler and layer DOC.
• The company said its animal health products segment’s profit before tax and interest grew 5% year-on-year, and the oilseed segment business more than doubled in the reported quarter.
• The company’s overall revenue from operations fell 5.9% to USD 98.6 million.

Venky’s sells edible oil obtained from processing oilseed such as soy, while the by-product, the de-oiled cake, is sold or used as poultry feed.

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