Value Added Products contribution to the overall dairy revenue rises to 25.1% at Rs 164.7 crore
Hyderabad-based Heritage Foods has announced its financial results for the third quarter and nine months ended on December 31, 2021.
Revenue from operations was at Rs 667 crore during the quarter; up by 10.3% YoY; while revenue from operations was at Rs 1985 crore during 9M FY2022; up by 7.1% YoY.
Brahmani Nara, Executive Director, said, “Heritage Foods has continued to deliver strong top-line growth riding on its Value-Added Product (VAP) portfolio expansion, widening its distribution network coupled with ’Debt Free’ status and healthy cash balance. During the quarter, the company launched several products across categories such as new pack formats of Frozen Desert in Vanilla, Butterscotch and Chocolate flavours, and all new ’easy-to-digest’ A2 Fresh milk in selected markets. As a result, Heritage Foods Value-Added Products continued its momentum with strong double-digit growth at 21.1% YoY to Rs 164.7 crore and its share of total revenue contribution increased by 200 bps YoY to 25.1%.”
Nara also added, “Heritage Novandie Foods entered into the Bengaluru market during Q3 FY2022. Additionally, we introduced the Natural French probiotic yogurts across all the geographies during the quarter.”