Parag Milk Foods | Parag Milk Foods Q2 net profit rises 15.9%; revenue up at Rs 871.31 crore

Parag Milk Foods reported a 15.9% rise in consolidated net profit, reaching Rs 29.21 crore in the second quarter ending September 2024.

Edited by: Damián Morais

Parag Milk Foods reported a 15.9% rise in consolidated net profit, reaching Rs 29.21 crore in the second quarter ending September 2024. This compares to Rs 25.19 crore during the same period the previous year. The company saw a 10% volume growth and a 9% value growth. Total revenue from operations increased by 9.2% to Rs 871.

Parag Milk Foods, a dairy-based branded products maker in India has reported a 15.9 per cent increase in consolidated net profit at Rs 29.21 crore in the second quarter that ended in September 2024 as against the net profit of Rs 25.19 crore in the same period of last fiscal, it said in a regulatory filing on Tuesday.

The dairy-based product maker has witnessed a 10 per cent volume growth and a growth of 9 per cent in terms of value.

The company’s total revenue from operations rose 9.2 per cent at Rs 871.31 crore in Q2 FY25 as compared to Rs 798.16 crore in Q2 FY24.

Also, its total expenses have increased to Rs 842.86 crore in Q2 FY25 as against Rs 779.35 crore in the similar period of last fiscal, as per the BSE filing.

Chairman of Parag Milk Foods, Devendra Shah, said, “As we continue to expand Parag Milk Foods’ reach and impact, our focus remains steadfast on delivering high-quality, innovative products that cater to evolving consumer needs.”

According to the company’s statement, its Gowardhan Ghee continues to be a market leader with 22 per cent share in the branded cow ghee segment. Newer business segments, Avvatar and Pride of Cows, are also gaining strong traction.

Further, Shah said, “With a robust pipeline for new product developments, I am confident that our deep-rooted commitment to provide customer-centric products will propel us towards our ambitious Rs 10,000 crore target and beyond.”

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