The company's profit before tax stood at Rs 26.64 crore in Q1FY24, down 60% YoY and down 22% QoQ.

Total expenses fell 16% to Rs 945.51 crore in Q1 June 2023 over Q1 June 2022. During the quarter, cost of materials consumed stood at Rs 720.70 crore (down 21.1% YoY) while employee benefits expense was at Rs 64.81 crore (up 10.1% YoY).

The profit margins of the poultry and poultry products segment for the Q1FY24 quarter were affected due to lower realizations from sale of day old chicks and grown up birds.

Oilseed segment registered lower sales and profits. Its margins were also affected on account of lower realizations from the sale of finished goods i.e. de-oiled cake and oil.

However, performance of animal health products segment has been good.

The company's Poultry and Poultry Products segment reported revenue of Rs 436.39 crore, down 6.35% YoY and up 0.68% QoQ.

The Oilseed segment reported revenue of Rs 488.36 crore, down 29.60% YoY and down 13.02% QoQ.

The Animal Health Products segment reported revenue of Rs 79.27 crore, up 16.50% YoY and up 7.94% QoQ.

Venkys (India) is the largest fully integrated poultry group in Asia. Its diversified products include SPF eggs, chicken and eggs processing, broiler and layer breeding, genetic research and Poultry diseases diagnostic, Poultry vaccines and feed supplements, vaccine production, bio-security products, Poultry feed & equipments, nutritional health products, soya bean extract and many more.