Venky's (India) slumped 8.17% to Rs 2411.95 after the company's net profit declined 80% to Rs 21.63 crore in Q3 FY22 from Rs 106.50 crore in Q3 FY21.
Revenue from operations rose 18% YoY to Rs 1,098.50 crore during the quarter. On the segmental front, revenue from Poultry & Poultry Products was Rs 406.36 crore (down 15% YoY), revenue from Animal Health Products was Rs 77.85 crore (up 19% YoY) and that from Oilseed was Rs 645.59 crore (up 54% YoY) in Q3 FY22.
Total expenses increased by 35% to Rs 1,079.77 crore in Q3 FY22 over Q3 FY21, due to a surge in raw material costs (up 45% YoY) and higher other expenses (up 13% YoY).
"The profit margins of the poultry and poultry products segment for the quarter as well as for the 9 months ended 31st December, 2021 have been severely affected due to steep rise in the prices of key poultry feed ingredients, especially soya which has seen unprecedented increase. The performance of Animal Health Products and Oilseed segments has been good, the company said in a statement.
Venky's (India) is a part of the VH group which is the largest and most integrated poultry player in India with strong presence in poultry broiler as well as layer segment along with sizeable presence in value added segments like animal healthcare products and processed chicken. The group's operations span the entire spectrum of poultry activities from pure-line breeding, grandparent and parent breeding and sale of commercial day-old chicks (DOCs) to contract commercial farming.
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