Avanti Feeds Limited Reports Earnings Results for the Third Quarter and Nine Months Ended December 31, 2023
February 05, 2024 at 04:58 am EST
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Avanti Feeds Limited reported earnings results for the third quarter and nine months ended December 31, 2023. For the third quarter, the company reported sales was INR 12,532.34 million compared to INR 11,025.79 million a year ago. Revenue was INR 12,869.53 million compared to INR 11,317.45 million a year ago. Net income was INR 724.66 million compared to INR 624.51 million a year ago. Basic earnings per share from continuing operations was INR 5.32 compared to INR 4.58 a year ago. Diluted earnings per share from continuing operations was INR 5.32 compared to INR 4.58 a year ago.
For the nine months, sales was INR 40,853.81 million compared to INR 39,939.83 million a year ago. Revenue was INR 41,851.97 million compared to INR 40,619.54 million a year ago. Net income was INR 2,530.73 million compared to INR 1,853.3 million a year ago. Basic earnings per share from continuing operations was INR 18.57 compared to INR 13.6 a year ago. Diluted earnings per share from continuing operations was INR 18.57 compared to INR 13.6 a year ago.
Avanti Feeds Limited is an integrated seafood company. Its segments include Shrimp Feed, Processed Shrimp, Power, and Shrimp Hatchery. The shrimp feed is manufactured and marketed to farmers, which is used in aqua culture to grow shrimp. The shrimps are purchased from the farmers and are further processed and exported to various countries. It has installed over four mills of over 3.2 megawatts capacity at Chitradurga, Karnataka. The power generated from windmills is sold to Bangalore Electricity Supply Company Limited (BESCOM) under a power purchase agreement. It has five shrimp feed manufacturing units, two shrimp processing units, a hatchery to produce shrimp larvae and a shrimp culture farm. Its products include raw shrimp, cooked shrimp, and value-added shrimp. Its value-added shrimps include marinated products, breaded products, skewers, and shrimp rings. It provides its products to various markets, such as Europe, Japan, Korea, China, Russia, Canada, and the Middle East.
AVANTI FEEDS LIMITED 
