Parag Milk Foods slips 12%, stock hits 52-week low as Q4 loss widens

For the financial year 2021-22, Parag Milk Foods reported a loss of Rs 532.50 crore, due to one-time write down of Rs 509.50 crore.

Shares of Parag Milk Foods slipped 12 per cent to Rs 65.5 and hit 52-week low, on the BSE in Friday’s trade after the company reported huge consolidated net loss of Rs 592 crore for the quarter ended March 2022 (Q4FY22), due to write down of inventory. The dairy products company had posted a loss of Rs 9.64 crore in a year ago quarter.

That said, the company’s consolidated revenue from operations grew 29 per cent to Rs 562 crore in Q4FY22 from Rs 434 crore in Q4FY21, driven by improvement in core categories. Further, the company said that