India. Godrej Agrovet reports high increase in Q4 profit

India’s Godrej Agrovet reported a 97% increase in its fiscal Q4 profit before tax on higher volume growth, the company said. A spate of acquisitions particularly in the dairy business also helped boost the company’s revenue and profits. The company, which is preparing for an IPO, posted a 4% increase in revenue during the quarter ended March 2017 to USD 159 million.
“The animal feeds business grew despite headwinds while Creamline dairy products grew 10%, with growth in value added products,” said Balram Yadav, Managing Director. He added that the company has been expanding its dairy business with smaller acquisitions. “We bought one asset in Hyderabad as we look at temperature neutral products. We also acquired another asset near Tirunelveli called RBS Dairy, which sells products under the Matha brand name.”

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