Venky's India reports 79% slump in quarterly profit as poultry business shrinks

Venky's Q1 profit slumped 79% YoY to Rs 158.3 million due to weak poultry margins amid oversupply and low broiler bird prices.

Heatwave-led panic selling and seasonal demand drop from Hindu festivals hurt poultry revenue, which fell 7.4%, turning into a segmental loss.

Oilseed segment revenue rose 33.6%, driven by stronger soya prices and steady demand, partially offsetting poultry weakness.

Total revenue grew 7.1%, but expenses surged 19%; company also entered the ready-mix spice powder market in Q1.