Avanti Feeds Ltd Share Price – NSE  /  BSE

FMCG, Small Cap

Avanti Feeds announced that the trial production at the newly established Shrimp Processing plant of Avanti Frozen Foods in Krishnapuram, Andhra Pradesh, started on 21 March 2024 and the 1st export invoice was raised on 28 March 2024.

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Revenue from operations increased 13.66% to Rs 1,253.23 crore in Q3 FY24 as compared with Rs 1,102.58 crore in Q3 FY23.

Profit before exceptional item and tax rose 18.07% YoY to Rs 115.71 crore in the quarter ended 31 December 2023.

Total expense rose 13.35% to Rs 1,170.78 crore in Q3 FY24 over Q3 FY23. Cost of material consumed was at Rs 957.37 crore (up 15.71% YoY) while employee benefit expense stood at Rs 47.09 crore (up 13.66% YoY).

On nine-month basis, the company's net profit jumped 36.55% to Rs 253.07 crore despite on 2.29% rise in revenue from operations to Rs 4,085.38 crore in 9M FY24 over 9M FY23.

Avanti Feeds is a manufacturer of prawn and fish feeds, and shrimp processor and exporter. The company's principal products/services are shrimp feed and processed shrimp.

Shares of Avanti Feeds rose 0.33% to Rs 554.50 on the BSE.

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Net profit of Avanti Feeds rose 16.04% to Rs 72.47 crore in the quarter ended December 2023 as against Rs 62.45 crore during the previous quarter ended December 2022. Sales rose 13.66% to Rs 1253.23 crore in the quarter ended December 2023 as against Rs 1102.58 crore during the previous quarter ended December 2022.

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Avanti Feeds will hold a meeting of the Board of Directors of the Company on 5 February 2024.

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