Avanti Feeds Ltd, a leading exporter, processor and shrimp feed, on Thursday (November 14) reported a 53.2% year-on-year (yoy) increase in net profit to 113.7 ₹ crore for the second quarter ended September 30, 2024. In the corresponding quarter of the previous financial year, Avanti Feeds recorded a net profit of ₹ 74.2 crore.

The company’s operating revenue increased 6 per cent to ₹1,355 crore from ₹1,278 crore in the same quarter of the previous fiscal.

At the operational level, EBITDA jumped 44.3 per cent YoY to ₹135.6 crore in Q2 this fiscal, compared to ₹94 crore in Q2 FY24.

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The EBITDA margin stood at 10% during the quarter under review compared to 7.4% for the corresponding period of the previous financial year. EBITDA is earnings before interest, taxes, depreciation and amortization.

The Hyderabad-based company is one of the leading shrimp feed producers. It operates with a consistent supply chain and farm-to-table model using a vertically integrated infrastructure of aquaculture farms, feed mills, hatcheries and processing plants. The company also exports food products to Sri Lanka and Bangladesh.

The results came after the close of market hours. Shares of Avanti Feeds Ltd closed at ₹580.50, up ₹14.70, or 2.60 per cent, on the BSE.

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