August 6, 2014
India's Avanti Feeds reports robust Q1 earnings
Leading Indian manufacturer of prawn and fish feeds and shrimp processor and exporter, Avanti Feeds, has reported robust 80% on-year increase in net profit at INR 25.62 crore (US$4.19 million) for the quarter ended June 30, 2014 thanks to strong operational income.
Total income from operations for the quarter grew 76% to INR 478 crore (US$78.12 million) against INR 271 crore (US$44.29 million) in the corresponding quarter of previous fiscal. The company had profit of INR 14.23 crore (US$2.33 million) in the same quarter year ago.
The company has established joint venture with Thai Union Frozen Products PCL., the world's largest seafood processors and leading manufacturer of prawn and fish feedsin Thailand with integrated facilities from hatchery to shrimp and fish processing and exports.