Hatsun Agro Share Price Surges 18% with Strong Q1 Performance

Tanushree Jaiswal Tanushree Jaiswal

Last Updated: 16th July 2024 - 02:01 pm

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Shares of Hatsun Agro Products surged by 18% to reach their highest point in 52 weeks on July 16, following the release of robust quarterly financial results.

As of 09.27 am IST, the Hatsun Agro Products share price was trading at ₹1,272.45 on the NSE, having earlier peaked at ₹1,400. This significant rise has contributed to a 17% increase in the stock's value this month.

The impressive quarterly performance also led to a surge in trading volumes, with three lakh shares being exchanged, a substantial increase from the one-month daily average of 45,000 shares.

For the April-June quarter, Hatsun Agro Products reported a net profit of ₹130.5 crore, a 62.9% increase from the ₹80.10 crore reported in the same period last year. Additionally, revenue rose by over 10% year-on-year to ₹2,375 crore in Q1 of FY25, compared to ₹2,150.60 crore in the corresponding period of the previous year. This growth was driven by high demand for ice creams and other dairy products during the summer.

Operationally, the company saw significant improvements in the first quarter of the current fiscal year. EBITDA increased by 39% to ₹330.3 crore, up from ₹237.7 crore in the previous fiscal year's first quarter, with the EBITDA margin expanding to 13.90%, compared to 11.0% the previous year.

Additionally, the company announced an interim dividend of ₹6 per share, setting July 24, 2024, as the record date for its payment, which will be made on or before August 14, 2024.

Hatsun Agro Products Limited, established in 1970 as Arun Ice Creams, has grown into India's largest private dairy company, operating 16 plants. It serves 38 countries with quality milk and dairy products, supported by advanced systems and proven business processes. The company employs between 5,001 and 10,000 people and collaborates with over 4 million farmers.

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