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Milky Mist posts 889.8% Q1 net profit jump on paneer demand
Revenue rose 43.6% year over year to ₹973.45 crore, and EBITDA climbed 74.5% to ₹144.89 crore with EBITDA margin expanding to 14.9% from 12.2%.
Milky Mist Dairy Food, a newly listed Indian packaged foods company, reported a sharp rise in first-quarter earnings for the quarter ended June, with consolidated net profit increasing 889.8% year over year to ₹64.68 crore from ₹6.53 crore.
LiveMint Markets said revenue from operations grew 43.6% year over year to ₹973.45 crore, supported by strong demand across its portfolio, including a summer range of ice cream, curd, and yogurt that benefited from an extended summer season in Southern India.
The company also pointed to paneer as its biggest revenue contributor, with paneer sales up 34% year over year, while cheese and curd categories grew 38% and 27% respectively. Ice cream revenue rose 60% year over year, and yogurt growth surged 153%.
On profitability, the outlet reported EBITDA rose 74.5% year over year to ₹144.89 crore, and EBITDA margin expanded to 14.88% from 12.24%, citing operational efficiencies. Milky Mist debuted on the Indian stock market on August 18, with shares ending nearly 30% above the issue price after a ₹1,553-crore IPO that was subscribed 56.12 times.