Growth Momentum will be much higher in the next quarter: Amit Kumat, MD & CEO, Prataap Snacks msn.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from msn.com Daily Mail and Mail on Sunday newspapers.
Growth Momentum will be much higher in the next quarter: Amit Kumat, MD & CEO, Prataap Snacks msn.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from msn.com Daily Mail and Mail on Sunday newspapers.
Growth Momentum will be much higher in the next quarter: Amit Kumat, MD & CEO, Prataap Snacks msn.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from msn.com Daily Mail and Mail on Sunday newspapers.
Growth Momentum will be much higher in the next quarter: Amit Kumat, MD & CEO, Prataap Snacks msn.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from msn.com Daily Mail and Mail on Sunday newspapers.
Prataap Snacks reworks strategy amid Covid surge Kolkata | Updated on Abhishek Law With the second wave of Covid-19 rampaging through the country, leading to reclosure of schools and educational institutions as well as lockdown in select States, snacks-manufacturer, Prataap Snacks (PSL), is reworking its business strategies. Instead of small unit packs and on-the-go offerings, the company is pushing for large format and family packs, while it focuses on increasing online presence. Subdued demand According to Amit Kumat, Managing Director and Chief Executive Officer at PSL, the demand continues to be depressed and there has been not much pick-up even in Q4 (quarter-ended March) even as schools and educational institutions, which are the prime drivers, continue to remain closed.
What happened in Q3? We have seen some of the food companies struggling to grow. Your revenue is down 6% YoY. Any particular reason? There has been growth on a sequential basis in Q3 compared to Q2. This is why demand is picking up but there is a real big problem of the schools not opening and kids not buying snacks. Our key market is based on impulse purchase by kids. So schools and institutions sales have not picked up and that is the main reason the sales have not been as good as last year’s Q3. But sequentially, we have done better than Q2 and with the economy regaining momentum and trains and schools and institutions set to reopen in phased manner, we expect a further uptick in demand.
Prataap Snacks fell 3.47% to Rs 720 after the company s consolidated net profit declined by 17.6% to Rs 4.55 crore on a 6.8% fall in net sales to Rs 334.33 crore in Q3 FY21 over Q3 FY20. In the third quarter, operating EBITDA was at Rs 17.56 crore, translating to a margin of 5.2%. Profit before tax in Q3 December 2020 stood at Rs 5.37 crore, down by 24.6% from Rs 7.12 crore in Q3 December 2019. Current tax expense during the quarter increased by 43.3% year-on-year (YoY) to Rs 1.39 crore. Commenting on the Q3 FY21 performance, Amit Kumat - MD, Prataap Snacks, said; I am pleased to share that we have delivered an encouraging performance during Q3 with growth on sequential basis despite seasonality in the quarter. This is a clear indicator of demand picking up in our key markets. We continue to explore alternate channels to expand our market reach even as the distribution network steadily rebuilds momentum.