Prataap Snacks registered a net profit Rs5.52cr, down by 31.6% in the quarter ended December 2019 as against Rs8.07cr during the previous quarter ended December 2018. However, the sales of the company rose 17.09% to Rs358.81cr in the quarter ended December 2019 as against Rs306.45cr during the previous quarter ended December 2018.
The stock is currently trading at Rs788, down by Rs22 or 2.72% from its previous closing of Rs810 on the BSE.
Amit Kumat – MD, Prataap Snacks Limited said, “I am pleased to report that we have witnessed very strong revenue growth across our entire portfolio of savoury and sweet snacks, amidst the consumption slow down. However, we have faced challenges on the margin front, owing to the sharp, unusual rise in Palm oil prices, which is a key input for our business. We are hopeful this unusual spike will cool off in the near term, which should restore our profitability going forward. We continue to focus on cost-optimisation and process-engineering, in order to drive a higher bottom-line, while keeping our revenues buoyant.”
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