Venky’s Q3 Results: Shares jump as profit more than doubles on stronger poultry realisations

Venky’s (India) Ltd delivered a strong set of results for the third quarter, with profitability improving sharply on the back of better realisations in its core poultry business.

Net profit for the quarter surged to ₹48.6 crore, more than doubling from ₹20.4 crore in the corresponding period last year. Revenue rose 9% year-on-year to ₹960 crore, compared with ₹882 crore a year ago.

Operating performance strengthened materially, with EBITDA rising to ₹69.6 crore from ₹29 crore in Q3 last year. As a result,

EBITDA margin expanded to 7.3%, up from 3.3% in the year-ago quarter, reflecting improved operating leverage and pricing.

The company said the Poultry and Poultry Products segment performed better during the quarter, aided by improved realisations from the sale of day-old chicks and grown-up birds. Performance in the Animal Health Products and Oilseed segments was described as satisfactory.

Following the earnings announcement, shares of Venky’s (India) Ltd were trading at ₹1,654 on the NSE, up ₹53.60 or 3.35% as of 2:03 pm, after touching an intraday high of ₹1,715.

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Venky’s (India) is a diversified agri-based company with a strong presence in poultry and poultry products, animal health products, oilseeds, and processed foods.