New Delhi, October 23, 2024: The dairy product maker reported 45.36% surge in consolidated net profit to Rs 63.38 crore on 29.94% jump in revenue from operations to Rs 997.62 crore in Q2 FY25 over Q2 FY24.
Profit before tax (PBT) stood at Rs 86.27 crore in Q2 FY25, registering a growth of 45.52% from Rs 59.28 crore recorded in the corresponding quarter previous year.
During the quarter, total expenses jumped 28.77% YoY to Rs 920.91 crore. Cost of materials consumed stood at Rs 612.36 crore (down 7.48% YoY) while employee benefit expenses was at Rs 39.71 crore (up 17% YoY) during the quarter.
EBITDA jumped by 37.17% YoY to Rs 96.3 crore in the second quarter of FY25. EBITDA margin improved to 9.6% in Q2 FY25 as against 9.1% posted in Q2 FY24.
The companys domestic business grew by 26.2% YoY to Rs 903.2 crore whereas, the international business saw a robust 81.1% YoY growth and registered revenue of Rs 94.4 crore in Q2 FY25.
In Q2 FY25, average milk procurement was at 17.2 LLPD as compared to 17 LLPD (lakh liter per day) in Q2 FY24, registering 1.17% YoY growth. Average milk sales stood at 11.6 LLPD, up 6.42% YoY. Curd sales was at 323.8 MTPD (up 4.63% YoY) during the period under review.
Value added products (VAP) sales stood at Rs 377.9 crore in Q2 FY25, up 93.49% as compared with Rs 195.3 crore posted in the corresponding quarter previous year, this growth was primarily driven by higher sales of butter and skimmed milk powder.
On half year basis the companys consolidated net profit grew by 63.42% YoY to Rs 128.40 crore on 19.98% jump in revenue from operation to Rs 1,909.21 crore in H1 FY25 over H1 FY24.
Sunil Reddy, managing director of Dodla Dairy, said, I am pleased to share that for the second time in a row, our company has reported its highest ever quarterly revenue with a 29.9% growth on a YoY basis for Q2 FY25. Additionally, in the quarter, our VAP sales rose by 93.5% to Rs 3,779 million, primarily due to the higher sale of Butter and Skimmed milk Powder. With the continuation of flush season, the quarter also remained strong for us in terms of milk procurement, which stood at 17.2 LLPD according to the reports published in business-standard.com.
Meanwhile, the companys board has declared a first interim dividend of Rs 3 per equity share for the financial year 2024-25. The record date for this dividend has been set for Thursday, 31 October 2024. The payment will be made to eligible members within 30 days from the date of declaration.
Dodla Dairy is a leading Indian dairy company. They procure, process, and sell a wide range of milk and milk products. With operations in multiple states, including international operations in Uganda and Kenya, Dodla Dairy has a strong distribution network of milk chilling centers, sales offices, agents, distributors, and retail parlors. Their diverse product portfolio includes milk, butter milk, ghee, curd, paneer, flavored milk, and more.
The scrip slipped 2.51% to Rs 1,239 on the BSE.
