Banana, mangoes and fruits being ethylene gas fruit ripening at a food processing unit run by Heritage Foods in Mulugu of adjoining Medak district.
| Photo Credit: K.V.S. Giri
India’s Heritage Foods reported a more than two-fold jump in fourth-quarter profit on Wednesday, helped by strong demand for its dairy products amid higher milk prices.
The dairy producer’s consolidated net profit from continuing operations rose to ₹405 million ($4.9 million) for the quarter ended March 31, from ₹179.3 million a year earlier.
Revenue from operations rose 16.3% to ₹9.51 billion. Total expenses increased by a comparatively moderate 13.4%.
Rising incomes mainly in urban India and preference for healthier options are driving demand for branded dairy products.
Meanwhile, milk prices have remained elevated on higher fodder costs and a shortage of dairy cows.
