 "Heritage Foods' Q2 results: Net profit surges two-fold to Rs 48.63 crore")
Indian dairy products maker Heritage Foods posted a two-fold surge in second-quarter profit on Wednesday, marking the seventh consecutive quarter of earnings growth, as increased rural demand boosted sales.
The company posted a consolidated profit of Rs 48.63 crore ($5.8 million) in the three months ended Sept. 30.
Its revenue from operations rose 4% to Rs 1,020 crore, while total expenses remained stable.
KEY CONTEXT
Demand in rural India is swayed by the monsoons, which is a key factor for agricultural output and drives the purchasing power of rural consumers.
The September quarter saw stable demand trends for consumer goods, with rural volume growth outperforming urban demand year-on-year for the third straight quarter.
Rivals Dodla Dairy and Hatsun Agro Products have yet to report their results for the quarter.
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