Hatsun Agro acquires Jyothi Dairy; Q2 net at Rs 10.77 cr
Oct 30 2013 , New Delhi
It did not disclose the acquisition amount.
"...As part of expanding its business in Andhra Pradesh has evinced interest in Hyderabad based Jyothi Dairy Private Limited," the company said in a statement.
Jyothi Dairy has operations throughout Andhra Pradesh with production facilities in Hyderabad and Chittoor.
HAPL Managing Director R G Chandramogan said: "It will help us in expanding our business operations in Andhra Pradesh."
Confirming the takeover Jyothi Dairy Managing Director T Balaji said that the experience of HAPL will help in expansion and better utilisation of the existing infrastructure.
The Chennai-based Hatsun Agro today reported a net profit of Rs 10.77 crore for the second quarter of the current fiscal, 2013-14, same as in the year-ago period.
The total income from operations for Q2 2013-14, rose to Rs 611.69 crore, from Rs 529.72 crore registered in the year-ago period, HAPL said in a BSE filing.
The company has dairies in 10 locations and exports dairy products to 38 countries.