Consolidated profit before tax stood at Rs 126 crore, up by 23% from Rs 102.54 crore in the same period last year. Total tax expense rose 3.5% to Rs 27.28 crore in Q4 FY20 over Q4 FY19. The result was announced on Saturday, 27 June 2020.

During the quarter, revenue from shrimp feed segment rose 15.48% to Rs 764.59 crore while revenue from shrimp processing segment rose 38.45% to Rs 270.65 crore compared with the corresponding period last year.

The stock has jumped 76% in last three months compared with 20.6% rise in S&P BSE 500 index.

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.

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Net profit of Avanti Feeds rose 27.93% to Rs 86.98 crore in the quarter ended March 2020 as against Rs 67.99 crore during the previous quarter ended March 2019. Sales rose 20.65% to Rs 1034.81 crore in the quarter ended March 2020 as against Rs 857.68 crore during the previous quarter ended March 2019.

For the full year,net profit rose 26.63% to Rs 346.49 crore in the year ended March 2020 as against Rs 273.63 crore during the previous year ended March 2019. Sales rose 17.99% to Rs 4115.29 crore in the year ended March 2020 as against Rs 3487.78 crore during the previous year ended March 2019.

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Avanti Feeds will hold a meeting of the Board of Directors of the Company on 27 June 2020.

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Speaking to media during market hours today FM Nirmala Sitharaman said compliance related to import permits for fisheries expiring before 15 April 2020 will be extended by 3 more months.

FM also stated that one month delay will be condoned in the arrival of the consignment of fisheries.

Shares of Avanti Feeds were trading 2.03% higher at Rs 264.45 on BSE. The stock has tumbled 51.5% in last one month and 65.5% from its 52-week high of Rs 769.90 posted on 17 January 2020.

Apex Frozen Foods was up 3.27% at Rs 146.65 on BSE. Shares of Apex Frozen have tumbled 56.6% in last one month and 66.25% from its 52-week high of Rs 444.75 hit on 16 January 2020.

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