Parag Milk Foods Ltd Q3FY21 consolidated PAT slides to Rs. 11.21 crore

Parag Milk Foods Ltd has reported financial results for the period ended December 31, 2020.

Financial Results (Q3 FY20-21) - QoQ Comparison

The company has reported total income of Rs.476.57 crores during the period ended December 31, 2020 as compared to Rs.500.47 crores during the period ended September 30, 2020.

The company has posted net profit / (loss) of Rs.11.21 crores for the period ended December 31, 2020 as against net profit / (loss) of Rs.15.89 crores for the period ended September 30, 2020.

The company has reported EPS of Rs.1.34 for the period ended December 31, 2020 as compared to Rs.1.89 for the period ended September 30, 2020.

Financials	Q3 FY20-21	Q2 FY20-21	% Change
Total Income	₹ 476.57 crs	₹ 500.47 crs	-4.78%
Net Profit	₹ 11.21 crs	₹ 15.89 crs	-29.45%
EPS	₹ 1.34	₹ 1.89	-29.1%

Financial Results (Q3 FY20-21) - YoY Comparison

The company has reported total income of Rs.476.57 crores during the period ended December 31, 2020 as compared to Rs.633.69 crores during the period ended December 31, 2019.

The company has posted net profit / (loss) of Rs.11.21 crores for the period ended December 31, 2020 as against net profit / (loss) of Rs.27.58 crores for the period ended December 31, 2019.

The company has reported EPS of Rs.1.34 for the period ended December 31, 2020 as compared to Rs.3.28 for the period ended December 31, 2019.

Financials	Q3 FY20-21	Q3 FY19-20	% Change
Total Income	₹ 476.57 crs	₹ 633.69 crs	-24.79%
Net Profit	₹ 11.21 crs	₹ 27.58 crs	-59.35%
EPS	₹ 1.34	₹ 3.28	-59.15%

Financial Results (9 Months ended FY 20-21) - YoY Comparison

The company has reported total income of Rs.1414.10 crores during the 9 months period ended December 31, 2020 as compared to Rs.1909.35 crores during the 9 months period ended December 31, 2019.

The company has posted net profit / (loss) of Rs.30.34 crores for the 9 months period ended December 31, 2020 as against net profit / (loss) of Rs.83.58 crores for the 9 months period ended December 31, 2019.

The company has reported EPS of Rs.3.61 for the 9 months period ended December 31, 2020 as compared to Rs.9.94 for the 9 months period ended December 31, 2019.

Financials	9 Months ended FY20-21	9 Months ended FY19-20	% Change
Total Income	₹ 1414.10 crs	₹ 1909.35 crs	-25.94%
Net Profit	₹ 30.34 crs	₹ 83.58 crs	-63.7%
EPS	₹ 3.61	₹9.94	-63.68%

Commenting on the performance, Mr. Devendra Shah, Chairman said "We are happy to report a gradual recovery in our performance during the quarter with strong performance in our core consumer products. The shift in consumer preferences towards trusted brands continues and is driving strong traction in the home consumption of our core categories, such as, ghee, paneer, and cheese buoyed further by a good festive season.

We have been able to sustain our gross margins sequentially, despite some rise seen in milk prices, given our focus on our core VADP portfolio which has led to a better business mix. Further, we continue to maintain our thrust on cost-optimisation and productivity enhancement.

This has been another quarter of healthy recovery. We expect to sustain the momentum going forward as we move towards normalcy of operations. We are focussing on weighted distribution, increasing our stock keeping units (SKUs) and widening our product range in line with changing consumer preferences. As the market is shifting towards premiumization with a clear thrust towards value-added dairy products, we are the forerunners with more than 75% of our portfolio comprising of value-added products."

Shares of Parag Milk Foods Ltd was last trading in BSE at Rs.115.3 as compared to the previous close of Rs. 115.35. The total number of shares traded during the day was 69907 in over 1510 trades.

The stock hit an intraday high of Rs. 119 and intraday low of 115.3. The net turnover during the day was Rs. 8205304.

Source : Equity Bulls

Keywords