Hatsun Agro Product Q2 net dips 49% on higher input costs
The Hindu
Revenue from operations grew by 7% by ₹1,748 crore
Hatsun Agro Product Ltd. (HAPL) has reported a 49% dip in standalone net profit for the second quarter ended September to ₹42 crore on an increase in raw material costs and unprecedented rainfall.
During the quarter under review, the revenue from operations grew by 7% by ₹1,748 crore, while raw material costs rose from ₹1,148 crore to ₹1,278 crore, an increase of 11%, the dairy-product maker said in a regulatory filing.
“The price increase of milk has been effected only from August 12 and hence, the benefit has been realised partially in this quarter. The benefit of cost increase will be realised in full in the quarters to come,” said R.G. Chandramogan, chairman.
He also said procurement and sales in Q2 got affected due to unprecedented rainfall.
Mumbai police investigate embezzlement of ₹122 crore from New India Cooperative Bank, leading to RBI restrictions and board supersession.
Taiwan's top tech official emphasizes the need for global semiconductor industry division of labor, not monopolization.
Cupid Ltd reports increased profits, appoints new Chairman, and expands market presence with new products and manufacturing facility.
Lok Sabha committee, led by BJP's Baijayant Jay Panda, to examine Income-Tax Bill 2025 with 31 MPs.
SEBI rejects Gaekwad's plea for competing open offer, solidifying Burman Group's acquisition bid for Religare Enterprises.
Mahindra & Mahindra's electric SUVs XEV 9e and BE 6 receive 30,179 bookings worth ₹8,472 crore on opening day.
Maxivision Group acquires Ojas Eye Hospitals in Mumbai to expand operations in Maharashtra with Rs.500 crore investment.
Markets tumble as Sensex and Nifty decline, with investors wary of foreign fund outflows and muted earnings.
Johnson & Johnson introduces TECNIS PureSee IOL for presbyopia in India, offering high-quality vision and reduced visual symptoms.
PMI Electro Mobility raises ₹250 crore for electric buses, accelerating growth plans with consortium investment.
India's wholesale price inflation slightly eased to 2.31% in January, driven by food and manufactured costs, with fuel prices in deflation.
AI could one day allow people to continue conversations with their loved ones after their death, said Sebastian Thrun, founder of Google X.
India considering liberalized air service agreement with Singapore, potentially allowing more flights and airport access.