Gowardhan Ghee-owner Parag Milk reports 6% rise in profit, revenue surges 11%

Parag Milk Foods has announced its quarter 3 earnings for the fiscal year 2024. The dairy company reported a 6 percent rise in its profit to Rs 36 crore in Q3 FY 25. The company's consolidated revenue surged to Rs 885 crore- 11 percent volume growth and 10 percent value growth in the same period.

In the nine-month period, Parag Milk's Profit After Tax (PAT) increased to Rs 93 crore, registering 15 percent YoY growth. On the other hand, the revenue stood at Rs 2,514 crore.

The FMCG company credited its profit increase in the third quarter to robust volume growth in its key product categories, mainly Ghee, Cheese, and Paneer which saw 15 percent rise in Q3FY25 and a 17 percent climb in the year-to-date period ending December FY25.

According to the company, the flagship brand Gowardhan Ghee's market share improved by 22 percent in the branded cow ghee segment, while the brand “Go Cheese” sustained its 35 percent market share in the Cheese category.

“India’s dairy industry continues to evolve, driven by rising consumer demand for high-quality and value-added products. At Parag, we are not only leading this transformation but also redefining ourselves as a global nutrition provider. Our highest-ever delivery in Q3 leveraging strong festive demand is a testimonial to the increasing preference for premium dairy offerings and our ability to meet evolving consumer needs," Chairman of Parag Milk Foods, Devendra Shah, said.

On the company's outlook, Shah added "We are focused on strengthening our supply chain, expanding our reach through new-age distribution channels, and driving product innovation to offer superior nutrition solutions. We continue to remain focussed on sustainable growth and long-term value creation".