White Organic Agro Limited Q1FY22 Revenue at Rs. 25.67 crore

White Organic Agro Limited (BSE: 513713) has announced its unaudited financial results for the first quarter ended June 30th, 2021.

The focus continues to remain on organic farming distribution and Retail of variety of products across different parts of Maharashtra and Gujarat. We witnessed superior acceptability and high demand for products and brand "White Organics" enabling us to report excellent growth in the First quarter ended 30th June, 2021.

- Revenue was at Rs. 25.67 crore in Q1FY22 as against Rs. 19.06 crore in the Q1FY21 with a growth of 34.68%

- Profit Before Minority Interest was at Rs. 2.97 crore in Q1FY22 as against Rs. 1.93 crore in Q1FY21 with a growth of 53.50%.

- EPS for Q1FY22 at Rs. 0.58 (Annualized EPS : Rs. 2.32) in Q1FY21 as against Rs. 0.37 in Q1FY20 with a growth of 56.75%.

Commenting on the financial results, Mr. Darshak Rupani, Managing Director, White Organic Agro Ltd. said: "In the quarter ended 30th June, 2021, our Company registered a good revenue growth of over 34.68% as compared to preceding quarter. This was mainly on back of high demand & growing acceptability for organic food particularly in rice, Pulses and Retail / distribution / trading of all other products.

During the quarter we have significantly added new feathers like setting up of Logistic Hubs in different areas of Mumbai, e-commerce sales, tying up with various commercial hubs and have expanded various other organic vegetables and variety of other products in our offerings. Also, we have explored many different geographies for our B2B sales and increased efforts has led to this growth.

We are confident that the efficient execution of our strategy will translate into sustainable and responsible growth. As more and more awareness is created, India will see a strong shift towards organic food with growth driven by acceleration in health consciousness, customer spending and huge opportunity lying within the unexploited organic sector.

I once again thank the entire team of 'White Organics' for their untiring efforts, hard work, sincerity and high dedication. Also, I would like to thank our valued Shareholders, whose support and faith in our Company along with their critical inputs has given us the determination and ambition to grow from strength to strength."

Shares of White Organic Agro Limited was last trading in BSE at Rs. 7.22 as compared to the previous close of Rs. 7.36. The total number of shares traded during the day was 35683 in over 150 trades.

The stock hit an intraday high of Rs. 7.6 and intraday low of 7.12. The net turnover during the day was Rs. 260266.

Source : Equity Bulls

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