Financial Daily from THE HINDU group of publications
Tuesday, May 31, 2005
Financial Daily from THE HINDU group of publications Tuesday, May 31, 2005 |
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Corporate Results
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Dairy & Dairy Products Agri-Biz & Commodities - Dairy & Dairy Products Heritage Foods Q4 net slips to Rs 3.25 cr Our Bureau
Hyderabad , May 30 HERITAGE Foods (India) Ltd has reported a fall in net profit for the fourth quarter of fiscal ended March 31, 2005, despite recording a growth in turnover. According to the audited financial results, the company has posted a turnover of Rs 63.68 crore and a net profit of Rs 3.25 crore for the quarter under review. In the same quarter of the previous fiscal, it reported a turnover of Rs 58.18 crore and a net profit of Rs 4.13 crore. For the year ended March 31, 2005, the company has posted a turnover of Rs 266.91 crore (Rs 235.83 crore) and a net profit of Rs 10.09 crore (Rs 14.36 crore). The board has recommended a dividend of 30 per cent for the fiscal under review. The Managing Director, Mr V. Nagaraja Naidu, said the company has commenced milk procurement, processing and packing operations by commissioning a new plant at Yandagandi village in East Godavari. He attributed the fall in profitability to increase in milk procurement cost and fall in selling prices of fat-related milk products.
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