Venky's Q4 net up 17% YoY, shares jump

Venky's India fourth quarter net profit rose 17% year-on-year to Rs 18 crore, sending shares of the processed chicken maker up 16% on Tuesday.

The Pune-based company's net sales in Jan-March were up 23% to Rs 258 crore.

On a sequential basis, Venky's net profit was up six-fold, while net sales were up 7%.

The company's net profit was boosted by higher income of Rs 10 crore, compared with Rs 2 crore in the year ago quarter. Its tax expense in the fourth quarter was also lower at Rs 5.5 crore, from Rs 7 crore a year ago.

"During the quarter, the poultry and poultry products segment registered better performance as compared to the quarter ended Dec 31, due to improved realizations from sale of day old chicks and grown up birds," Venky's also said.

In Jan-March, Venky's revenue from poultry and poultry products rose 33% year-on-year to Rs 199 crore. Animal Health products revenue was up 20% to Rs 24 crore.  But revenue from oilseeds fell 9% to Rs 64 crore.

Venky's shares were up 15.6% at Rs 392 on NSE in afternoon trade.

Nachiket Kelkar
nachiket.kelkar@moneycontrol.com