Prabhat Dairy gains over 2% on Rs 2,000 crore FY20 revenue target

NEW DELHI: Shares of Prabhat Dairy climbed over 2 per cent on Wednesday after the company said it is targeting Rs 2,000 crore revenue by the financial year 2019-20 through enhancing its consumer segment to 50 per cent of the total business.

The scrip climbed 2.50 per cent to close the day at Rs 133.35 on BSE. Shares of the company opened at Rs 131.90 and touched a high and low of Rs 135.90 and Rs 131.85, respectively.

The company on Tuesday launched a new corporate identity and a logo and will work towards expanding its presence in the retail category and firm up the scale in institutional business.

“With the launch of new corporate identity and logo, Prabhat Dairy, is set to expand its presence in the retail category and firm up the scale in institutional business,” the company said in a BSE filing.

Prabhat Dairy is also planning to expand its product portfolio and national footprint to enter into lucrative markets across India.

According to a report by PTI, the company is planning to introduce lassi, fresh cream and butter milk to its product portfolio. Prabhat Dairy is also working on products like ice cream and milk shakes that it expects to launch next year.