Heritage Foods' Q2 net dips 40% at Rs33 cr

Hyderabad: Heritage Foods Ltd reported a 40 per cent decline in net profit at Rs 32.8 crore in the second quarter of financial year 2021-22 when compared to Rs 53.9 crore in the corresponding quarter previous fiscal.

The company's earnings before interest, taxes, depreciation, and amortisation (EBITDA) also decreased 27 per cent at Rs 63.7 crore in Q2 FY2022 as against Rs 87.3 crore in the same quarter last year.

Brahmani Nara, executive director, Heritage Foods, said: "Heritage Foods has recorded strong recovery post-Covid wave 2, by continuing to deliver strong top-line growth, expanding its value-added product portfolio and strengthened its balance sheet."

However, the company's revenue from operations surged up 9.9 per cent at Rs 670.3 crore during the quarter under review. The Board of Directors proposed an interim dividend of Rs 2.

Heritage Foods has appointed Muthu Raju Paravasa Raju Vijay Kumar as a Non-Executive Independent Director and looks forward to gain from his rich knowledge and experience in accomplishing the company's long-term goals and vision.