Modern Dairies Reports 17% Revenue Decline in Q1, Profit Drops 57%
Modern Dairies Limited experienced a challenging first quarter with revenue from operations decreasing by 17.08% to ₹783.03 crores and profit after tax dropping by 57.22% to ₹16.51 crores compared to the same period last year. Total income declined to ₹784.39 crores from ₹945.90 crores. The company managed to reduce its cost of materials consumed by 22.66% to ₹605.72 crores. Modern Dairies also disclosed an ongoing legal issue regarding a Milk Cess liability of ₹544.31 crores to the Haryana government, currently pending before the Supreme Court.