Shares of Hatsun Agro Product have surged 23.86% in two sessions after the dairy major on 27 October 2025, announced a strong set of numbers for the September quarter.

On a consolidated basis, the company reported a net profit of Rs 109.78 crore in Q2 FY26, up 73.13% year-on-year from Rs 63.41 crore in Q2 FY25. Sequentially, profit was lower by 18.89% compared to Rs 135.34 crore in Q1 FY26.

Revenue from operations stood at Rs 2,427.59 crore, up 17.1% YoY from Rs 2,072.10 crore in Q2 FY25, though down 6.3% from Rs 2,590.28 crore in the preceding quarter.

Profit before tax (PBT) came in at Rs 147.53 crore, up 68.6% YoY from Rs 87.50 crore in Q2 FY25, though it declined 19.9% QoQ from Rs 184.24 crore in Q1 FY26.

Total expenses increased 14.7% YoY to Rs 2,284.32 crore, though expenses were down 5.2% sequentially.

Employee benefit expenses rose 22.9% YoY to Rs 73.92 crore, while finance costs fell 16% YoY to Rs 37.53 crore. Depreciation stood at Rs 144.17 crore, up 24.7% YoY.

Other expenses rose 9.9% YoY to Rs 363.48 crore, but slipped 10.7% sequentially from Rs 407.12 crore in Q1 FY26.

Tax expense stood at Rs 37.99 crore, up 63.89% compared with Rs 23.18 crore in Q2 FY25.

For the first half of FY26, Hatsun Agro reported consolidated net cash generated from operating activities at Rs 1,061.78 crore, higher than Rs 883.33 crore in the same period last year.

Hatsun Agro Product is engaged in the business of processing and marketing of milk, milk products and ice cream. The company has plants across various locations in India.