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Heritage Foods Limited, a leading dairy company, has announced its impressive results for the quarter ended December 31, 2024. The company has achieved a notable 10% year-on-year revenue growth, surpassing Rs 10,000 million for the third consecutive quarter, with a revenue of Rs 10,339 million. The company’s milk procurement volumes have increased by 12.62% year-on-year, reaching 1.84 million liters per day (MLPD), while average procurement costs decreased by 2.7% year-on-year to Rs 41.91 per liter.
Milk sales volumes grew by 6.08% year-on-year to 1.17 MLPD, with a slight decline in the average selling price, which decreased to Rs 54.64 per liter due to a shift in the product mix. The company’s value-added products (VAP) segment continued to perform well, with a 17.6% year-on-year revenue growth, contributing 28.2% to the total revenue, up from 26.5% in the same quarter last year. The VAP segment recorded revenues of Rs 2,874 million, a growth of 19.5%, and now contributes 33.5% to the total revenue, up from 31% last year.
Heritage Foods also delivered a strong profitability performance, with an EBITDA of Rs 741 million, resulting in a 7.2% margin. The company’s net profit surged by an impressive 60% year-on-year to Rs 431 million, reflecting a 4.2% margin. Brahmani Nara, Executive Director of Heritage Foods, expressed her satisfaction with the results, stating that the company has achieved Rs 10,000 million+ revenue for the third consecutive quarter. The company’s strong growth in both its core and value-added segments has further solidified its position as a leader in the dairy industry.