PSL reports improved profibility in Q3 FY18

PSL reports improved profibility in Q3 FY18

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YTD FY18 revenues up 11%. YTD FY18 Operating EBITDA grows 120%. YTD FY18 PAT grows 276%.

Prataap Snacks Limited (PSL), a leading Indian Snack Foods Company, has announced its financial results for the third quarter and nine months ended 31st December 2017:

In 9M FY18, PSL reported:

. Income from Operations of Rs. 7,601.5 million, higher by 11% yoy

. Operating EBITDA of Rs. 663.6 million, an increase of 120% yoy

. EBITDA Margins expanded from 4% to 9%

. PAT was higher by 276% on a yoy basis to Rs. 340.9 million

. EPS (Diluted) for the period was Rs.16 per share (not annualised)

Commenting on the Q3 FY18 performance, Mr. Amit Kumat – MD & CEO, Prataap Snacks Limited said “As we had mentioned in the last quarter, there has been potato supply issues in Q3 resulting in muted growth for the quarter. However, we have improved profitability on a YOY basis despite select raw material inflation. With supply issues out of the way, we expect to end H2 of this year in line with the growth that we witnessed in H1.”

Highlights:

PSL recently entered into new contract’s for third party manufacturing at Ahmedabad, Bengaluru and Kolkata for producing potato chips.

. The enhanced capacities will widen PSL’s manufacturing footprint, enabling it to cater to the growing demand for its products.

. In addition, the contract manufacturing units are located in close proximity to the target markets ensuring optimal logistics and freight management.