Revenue from operations fell by 8% YoY to Rs 953.17 crore during the quarter.

On the segmental front, revenue from Poultry and Poultry Products business remained flat at Rs 438.96 crore. The Oilseed business and the Animal Health Products business posted revenues of Rs 460.77 crore (down 16% YoY) and Rs 80.98 crore (up 9% YoY), respectively.

Total expenses declined by 5% to Rs 973.44 crore in the third quarter as compared with the same period last year, primarily due to lower raw material costs (down 8% YoY). This was, to some extent, offset by higher employee expenses (up 10% YoY) and higher other expenses (up 3% YoY).

The company posted a pre-tax loss of Rs 10.48 crore in Q3 FY24 as against a pre-tax profit of Rs 22.02 crore in Q3 FY23.

Tax write-back in Q3 FY24 was Rs 2.54 crore. Tax outgo during the corresponding period previous fiscal was Rs 5.49 crore.

Venky's said: "The profit margins of the poultry and poultry products segment for the quarter ended 31st December 2023 have been affected due to lower realizations from sale of day-old chicks and grown-up birds.

Oilseed segment’s margins were affected due to lower demand and also due to subdued realizations from the finished goods i.e. de-oiled cake and oil. Performance of Animal Health Products segment has been good."

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 pro.