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Revenue from operations declined 91.8% to Rs 109.30 crore in Q4 FY23 as compared with Rs 1,332.23 crore in Q4 FY22.
Profit before exceptional items and tax increased to Rs 145.33 crore in Q4 FY23 from Rs 120.80 crore, up 20.31%. Exceptional loss stood at Rs 518.54 crore in Q4 FY23.
Total expense declined 20.63% to Rs 972.74 crore in Q4 FY23 as compared with Rs 1,225.51 crore in Q4 FY22. Cost of material consumed was at Rs 848.82 crore (down 20.18% YoY) while employee benefit expense stood at Rs 42.67 crore (up 28.76% YoY), finance cost was at Rs 1.02 crore (up 137.21% YoY).
On full year basis, the company's net profit tumbled 98.74% to Rs 278.67 crore despite of 1.01% rise in revenue form operations to Rs 5,086.98 crore in FY23 over FY22.
Meanwhile, the board has recommended a dividend of Rs 6.25 per equity share for FY23.
Avanti Feeds is a manufacturer of prawn and fish feeds, and shrimp processor and exporter. The company's principal products/services are shrimp feed and processed shrimp.
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