Prataap Snacks Ltd Q1 loss at Rs. 5.95 crore

Prataap Snacks Ltd has reported financial results for the period ended June 30, 2020.

Financial Results (Q1 FY 2020-21) - QoQ Comparison

The company has reported total income of Rs.197.64 crores during the period ended June 30, 2020 as compared to Rs.316.40 crores during the period ended March 31, 2020.

The company has posted net profit / (loss) of Rs.(5.95) crores for the period ended June 30, 2020 as against net profit / (loss) of Rs.19.75 crores for the period ended March 31, 2020.

The company has reported EPS of Rs.(2.54) for the period ended June 30, 2020 as compared to Rs.8.42 for the period ended March 31, 2020.

Financials	Q1 FY2020-21	Q4 FY19-20	% Change
Total Income	₹ 197.64 crs	₹ 316.40 crs	-37.53%
Net Profit	₹ (5.95) crs	₹ 19.75 crs	-130.13%
EPS	₹ (2.54)	₹ 8.42	-130.17%

Financial Results (Q1 FY 2020-21) - YoY Comparison

The company has reported total income of Rs.197.64 crores during the period ended June 30, 2020 as compared to Rs.333.14 crores during the period ended June 30, 2019.

The company has posted net profit / (loss) of Rs.(5.95) crores for the period ended June 30, 2020 as against net profit / (loss) of Rs.9.65 crores for the period ended June 30, 2019.

The company has reported EPS of Rs.(2.54) for the period ended June 30, 2020 as compared to Rs.4.12 for the period ended June 30, 2019.

Financials	Q1 FY2020-21	Q1 FY2019-20	% Change
Total Income	₹ 197.64 crs	₹ 333.14 crs	-40.67%
Net Profit	₹ (5.95) crs	₹ 9.65 crs	-161.66%
EPS	₹ (2.54)	₹ 4.12	-161.65%

Commenting on the Q1FY21 performance, Mr. Amit Kumat - MD, Prataap Snacks Limited, said: "It has been a quarter of unprecedented challenges due to the COVID19 pandemic and consequent nationwide lockdown which has impacted operations in all geographies. Though we moved quickly to stabilise operations and ensure business continuity it took relatively longer to recommence operations at our mother plant, comprising over 50% of total capacity, since Indore was a designated hot spot and containment zone. However, our Guwahati plants and network of 3P facilities served us well enabling us to resume production at these locations in end of April itself. In this backdrop, we witnessed significant loss of production in April, a gradual ramp up in May and production returning to ~80% of Pre-Covid level in June. The operational challenges that emerged at start of lockdown have now abated and production has largely been stabilised towards the end of the quarter. The local lockdowns at various parts of the country are presenting some challenges. However, we continue to focus on bringing back the business at normalcy while positioning ourselves to capitalise on increased customer acceptance of alternate channels for go-to-market.

There has been reduction in fixed costs to strengthen the business while variable costs, especially inputs such as palm oil, have remained stubbornly high. We have partially mitigated the impact through process re-engineering and cost optimisation and are working on additional measures to enhance efficiencies. In these unpredictable times, we continue to maintain a high quality of operations and a robust financial position."

Amidst the turbulence, our teams have remained committed to continued innovation and we are on the cusp of launching "Omega fortified Potato Chips" - an exciting and healthier snacking alternative in an immensely popular category."

Shares of Prataap Snacks Ltd was last trading in BSE at Rs.594.1 as compared to the previous close of Rs. 567.35. The total number of shares traded during the day was 3073 in over 534 trades.

The stock hit an intraday high of Rs. 617.7 and intraday low of 573.3. The net turnover during the day was Rs. 1828792.

Source : Equity Bulls

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