Parag Milk Q2 net profit surges 98% to Rs 25 cr

Parag Milk Foods today reported a 97.94 per cent jump in its consolidated net profit to Rs 25 crore in the second quarter ended September 30.
Net profit stood at Rs 12.63 crore in the same quarter last year, the company said in a regulatory filing.
Total income increased to Rs 508.1 crore during July- September of the current fiscal from Rs 475.9 crore in the year-ago period.
Expenses rose to Rs 474.81 crore in the period under review from Rs 455.6 crore in the corresponding period last fiscal.
Commenting on the performance, Parag Milk Chairman Devendra Shah said the Q2 saw better demand and the company expects the growth momentum to accelerate further in the coming quarters.

The Pune-based company has its manufacturing facilities at Manchar in Maharashtra and Palamaner in Andhra Pradesh. It sells cow milk products under the brands Gowardhan, Go and Pride of Cows.
Shares of the company fell 2.72 per cent to close at Rs 270.50 a piece on the BSE today.