Thursday, Mar 28 2024 | Time 17:35 Hrs(IST)
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Business Economy


Aquaculture firm Waterbase Ltd's income from operations up by 13 pc in Q3

Chennai, Feb 10 (UNI) The Waterbase Limited, pionneer in Indian aquaculture industry with focus on driving improvement in shrimp feed manufacturing, farm practices and shrimp processing, has registered a 13 percent higher growth in its income from operations in the third quarter of the current fiscal.
A company release on Saturday said the income from operations stood at Rs 60 crore, higher by 13 per cent.
The PBT for the quarter was Rs five crore as against a loss of Rs two crore and the PAT stood at Rs three crore as against a loss of Rs one crore.
For the first nine months of the fiscal 2017-18, the income from operations grew by six per cent and stood at Rs 277 crore, while the PBT grows three fold to Rs 42 crore. The PAT surged three times to Rs 27 crore.
Commenting on the results, Waterbase CEO Ramakanth V Akula said ''in Q3 we were able to sustain the positive momentum in volume growth in the feeds business by strengthening our position in key markets, while gaining foothold in newer markets''.
''This was made possible by multi year efforts to enhance the distribution network, introduce product innovations and undertake widespread branding and marketing initiatives'', he added.
''The combination of strong volume growth in the feed business and benefits of soft raw material prices during the 2017 calendar year has propelled us to our highest ever PAT in the first nine months of the current fiscal'', Mr Akula said.
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