Q1FY21 results: Parag Milk Foods net profit slides 88.24 per cent YoY

Parag Milk Foods Limited, a company that manufactures, markets and sells milk and milk products , announced its quarterly results on September 7, 2020. The company posted a consolidated net profit of Rs 3.24 crore for Q1FY21, which declined by 88.24 per cent YoY, as compared to Q1FY20 when it reported Rs 27.51 crore.                                                                                                                                                      

The consolidated net sales reported in Q1FY21 came in at Rs 435.60 crore, which declined by 30.83 per cent YoY from Rs 629.74 crore in Q1FY20. At EBITDA level, the company stood at Rs 29.72 crore in Q1FY21 that decreased by 47.72 per cent YoY. For Q1FY20, it posted an EBITDA of Rs 56.85 crore.                                                                                                                                                 

EBITDA margin as of Q1FY21 was at 6.82 per cent that declined by 2.21 per cent YoY. The net profit margin in Q1FY21 came in at 0.74 per cent, which declined by 3.63 per cent YoY. The net profit margin in Q1FY20 was at 4.37 per cent.    

The share closed with gains of 1.27 per cent at Rs107.70 on BSE in today’s session.