Mishtann Foods posts 579% YoY growth in consolidated PAT
The consolidated revenue from operations of the FMCG company stood at Rs 330.53 crores in the third quarter. This is a rise of 101.86 per cent from Rs 163.64 crores in Q3 FY23.
Mishtann Foods posted Rs 93.05 crores consolidated net profit after tax (PAT) in the third quarter of FY24, which is a 579.20 per cent year-on-year (YoY) growth. The net PAT of the company was Rs 13.70 crore in the Q3 FY23.
The consolidated revenue from operations of the FMCG company stood at Rs 330.53 crores in the third quarter. This is a rise of 101.86 per cent from Rs 163.64 crores in Q3 FY23.
Earlier in August last year, foreign institutional investor Nomura Singapore hiked its stake in leading Gujarat-based FMCG company Mishtann Foods.
The company in a statement said that Nomura Singapore has increased its shareholding to over more than 2 per cent. It now owns 2.19 per cent stake or 2,18,82,762 equity shares in the company.
Before this, Nomura held a 1.28 per cent stake or 1,28,25,854 equity shares in an Ahmedabad-based FMCG company which primarily deals in various types of rice, wheat and pulses segments among others.
A constituent of the S&P BSE SmallCap index, Misthann Foods commands a market capitalisation of Rs 2,326 crore.
Mishtann Foods has a 100,000 metric tonne per annum rice processing facility in Ahmedabad. It claims that all of its products are grown using environmentally friendly farming practices.
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11:05 PM IST