Venky’s is the prominent supplier to many quick service restaurants (QSR’s) and international chains like Kentucky Fried Chicken (KFC), Pizza Hut, Tacobell, TGI Friday, Brinkers, Vista Foods, Burger King, McDonalds etc. Venky’s is prominently associated with business-to-business (B2B) and business-to-consumer (B2C) retail chains to sell our Venky’s brand chicken products, like Walmart, Metro Cash and Carry, Star Bazar, ABRL More, Future Retail and regional chains in major cities of India.
On May 10, Venky’s (India) had reported a standalone profit after tax (PAT) of Rs 77.90 crore for the quarter ended March 2021 (Q4FY21). It had posted a net loss of Rs 96.73 crore in the year-ago quarter. On a sequential basis, the net profit was down 27 per cent from Rs 106.50 crore as the company witnessed some negative impact due to outbreak of bird flu.
The company’s revenue from operations grew 42 per cent to Rs 941.35 crore from Rs 660.86 crore in the corresponding quarter of previous fiscal. It reported earnings before interest, taxes, depreciation, and amortization (EBITDA) of Rs 111.17 crore against a loss of Rs 117.53 crore.
For the financial year 2020-21 (FY21), Venky’s had posted PAT of Rs 267.7 crore against loss of Rs 27.16 crore, despite 4.4 per cent year on year dropped in revenue from operations at Rs 3,117 crore.
The management said the improved financial performance was seen for the quarter, even after the Company witnessed some negative impact in January, 2021 due to outbreak of bird flu. The poultry and poultry products segment witnessed better realizations from the sale of day old chicks and grown up broilers.
The maize prices have been steady throughout the quarter and the outlook appears to be stable. The animal health products segment registered improved performance, while oilseed segment performance has been good, registering improved sales and profits, the management said.
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