Prabhat Dairy Q4 profit at ₹ 176 cr
Prabhat Dairy today reported a profit of Rs 176 crore during the March quarter, while also announcing its foray into the dairy beverage segment. The company had posted a loss of Rs 1.78 crore in the same quarter last year.
The total income of the company grew by 7.54 per cent at ₹ 406.17 crore, compared with ₹377.68 crore, largely driven by increased sale of pouch milk, cheese and curd, Prabhat Dairy joint managing director and chief executive officer Vivek Nirmal told reporters here.
The company, which introduced beverages such as milkshakes, lassi and chaas in Tetra Pak, is planning to expand its beverage market through a franchise based chain of retail outlets named Prabhat Goodness Zone, he said.
This would be a counter sale and local distribution point for the company’s milk and milk based products.
In the first phase, the firm will cover Maharashtra, followed by pan-India expansion in the second phase.
“We are planning to open 500 stores in the state (Maharashtra) in the next three years through the franchise model. We will spend ₹ 30 crore for marketing and promotions of our beverage brand,” Nirmal said.
The new range of beverages will be manufactured in the company’s plant in Shrirampur and Turbhe in Maharashtra.
The shares of the company today closed 1.65 per cent down at ₹ 172.85 on the BSE.