Heritage Foods to Prabhat, dairy firms' profit saw a jump in June quarter

A study by India Ratings & Research has estimated a 5.9% compounded annual growth rate between 2013 and 2018 in milk production, to 176.35 mt

The net profit at dairy companies soared during the April-June quarter, the first one of 2018-19, due to lower cost of production. Led by lower input prices.

Bulk milk producer Prabhat Dairy, for example, reported a 90 per cent increase to Rs 111 million from the same quarter last year, even as revenue grew only 7.3 per cent to Rs 3.86 billion. It had raised milk procurement by 16 per cent to an average of 1.08 million litres a day, with a 24 per cent decline in the price it paid sellers, at Rs 20.6 a litre.

Hyderabad-based Heritage Foods recorded a