Dodla Dairy touches an all-time high after achieving revenue target for first time

Dodla Dairy shares touched an all-time high of Rs 898.9 in early trade on July 24 after the company achieved its quarterly revenue milestone of Rs 800 crore for the first time in the April-to-June quarter.

The shares were trading at Rs 870 up 13.29 percent at 11.49 am on the National Stock Exchange following a 40 percent YoY increase in net profit and over 14 percent jump in revenue for the June quarter. The stock also touched an all-time high of Rs 898.90 earlier but slipped soon after.

Around 20 lakh shares changed hands on the exchanges, which was 10 times more than the company’s monthly-traded average.

The dairy maker’s revenue from operations increased 14.8 percent to Rs 823 crore in the April-to-June quarter compared to the same period a year before, the company said in an exchange filing on July 21. The increase in operating revenue was on account of a surge in value-added products and fat product sales during the quarter, which was aided by an extended summer season, a diversified product portfolio, and strong brand recall, a press release from the company added.