Avanti Feeds Ltd. Reports Unaudited Consolidated and Standalone Earnings Results for the Third Quarter and Nine Months Ended December 31, 2016
January 27, 2017 at 07:52 am
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Avanti Feeds Ltd. reported unaudited consolidated and standalone earnings results for the third quarter and nine months ended December 31, 2016. For the quarter, on consolidated basis, the company reported net sales/income from operations of INR 896.893 million compared to INR 721.378 million a year ago. Profit from operations before other income, finance cost & exceptional items was INR 649.139 compared to INR 529.108 million a year ago. Profit from ordinary activities after tax was INR 464.745 million compared to INR 371.844 million a year ago. Net profit was INR 411.120 million compared to INR 373.354 million a year ago. Basic and diluted profit per share before and after extraordinary items was INR 9.05 compared to INR 8.05 a year ago.
For the nine months, on consolidated basis, the company reported net sales/income from operations of INR 2,945.382 million compared to INR 2,107.778 million a year ago. Profit from operations before other income, finance cost & exceptional items was INR 1,917.428 compared to INR 1,743.842 million a year ago. Profit from ordinary activities after tax was INR 1,370.682 million compared to INR 1,268.607 million a year ago. Net profit was INR 1,284.820 million compared to INR 1,262.742 million a year ago. Basic and diluted profit per share before and after extraordinary items was INR 28.29 compared to INR 27.80 million a year ago.
For the quarter, on standalone basis, the company reported net sales/income from operations of INR 768.472 million compared to INR 721.378 million a year ago. Profit from operations before other income, finance cost & exceptional items was INR 562.013 compared to INR 532.865 million a year ago. Profit from ordinary activities after tax was INR 388.230 million compared to INR 367.096 million a year ago. Net profit was INR 388.230 million compared to INR 367.096 million a year ago. Basic and diluted profit per share after extraordinary items was INR 8.55 compared to INR 8.08 a year ago.
For the nine months, on standalone basis, the company reported net sales/income from operations of INR 2,816.961 million compared to INR 2,107.778 million a year ago. Profit from operations before other income, finance cost & exceptional items was INR 1,757.379 compared to INR 1,747.599 million a year ago. Profit from ordinary activities after tax was INR 1,144.948 million compared to INR 1,263.859 million a year ago. Net profit was INR 1,144.948 million compared to INR 1,263.859 a year ago. Basic and diluted profit per share after extraordinary items was INR 25.21 compared to INR 27.83 a year ago.
Avanti Feeds Limited is engaged in manufacturing of shrimp feed. The Company operates through three segments: Shrimp Feed, Windmills, and Hatchery. The shrimp feed is manufactured and marketed to farmers, which is used in aqua culture to grow shrimp. The shrimps are purchased from the farmers and are further processed and exported to various countries. It has installed over four mills of over 3.2 megawatts capacity at Chitradurga, Karnataka. The power generated from windmills is sold to Bangalore Electricity Supply Company Limited (BESCOM) under a power purchase agreement. It has six shrimp feed manufacturing units and one hatchery. The Companyâs products include raw shrimp, cooked shrimp, and value-added shrimp. Its value-added shrimps include marinated products, breaded products, skewers, and shrimp rings. The Company provides its products to various markets, such as Europe, Japan, Korea, China, Russia, Canada, and the Middle East.
AVANTI FEEDS LIMITED 
