Dodla Dairy net profit falls 44% to ₹36.59 crore in Q2 on higher milk

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Revenue rises 17.4% to ₹1,196 crore; board approves joint venture with MIHL

By BL Hyderabad Bureau

Updated - October 29, 2026 at 10:28 AM. | Hyderabad

Dodla Dairy Ltd, an integrated dairy company, posted a consolidated net profit of ₹36.59 crore in the second quarter ended September 30, 2026, down from ₹65.67 crore in the same quarter the previous year, a decline of 44.3 per cent.

The board, which met on Wednesday to approve the results, also cleared a proposal to set up a joint venture in India with Meadow India Holdings Ltd (MIHL) to market and sell dairy ingredients to businesses. Dodla will hold 40 per cent in the venture and MIHL the remaining 60 per cent. The proposal is subject to signing a joint venture agreement and obtaining regulatory approvals.

Revenue from operations in the quarter rose 17.4 per cent to ₹1,196.02 crore from ₹1,018.82 crore. The company said the consolidated results were not comparable with the corresponding period in the previous year, following its acquisition of HR Food Processing Private Ltd with effect from August 1, 2025.

The company’s milk procurement price went up 15.7 per cent year-on-year (y-o-y) to ₹43.2 a litre, while its realisation price rose only 8 per cent to ₹61.9 a litre, it said in an investor release. Packing material costs rose 41.6 per cent, and overheads per litre increased due to inflation, the new labour code and geopolitical issues.

The company raised milk prices by ₹2.5 a litre during the quarter. “As the price revision came into effect in the second half of the quarter, its benefit was partially reflected in Q2 FY27,” Dodla Sunil Reddy, Managing Director, said.

Festive demand shifted to the third quarter this year from the second quarter last year, the company said.

Milk procurement rose 9.3 per cent to 21.3 lakh litres a day and milk sales grew 8.4 per cent to 14.2 lakh litres a day. Sales of value-added products stood at ₹327 crore, compared with ₹292.8 crore. Curd sales volume grew 23 per cent to 444.7 tonnes a day.

The Africa business, which operates in Kenya and Uganda, recorded revenue growth of 55.9 per cent.

The company’s scrip is down by 1.11 per cent on BSE, trading at ₹983.40 in the first hour.

Published on October 29, 2026

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