While many FMCG companies reported slow growth rates in FY20 owing to slowdown, the Gujarat Cooperative Milk Marketing Federation Ltd (Amul) has reported a 17% increase in its turnover for the last fiscal 2019-20.
While many FMCG companies reported slow growth rates in the last financial year 2019-20 owing to an economic slowdown, the Gujarat Cooperative Milk Marketing Federation Ltd (Amul) has reported a 17% increase in its turnover for the last fiscal 2019-20. “Gujarat Co-operative Milk Marketing Federation Ltd., which markets the popular Amul brand of milk and dairy products, has registered a provisional turnover of Rs 38,550 crore for the financial year 2019-20 which ended on 31st March 2020,” the company said in a statement on 1 April 2020. The company attributed its double-digit growth rate to “higher milk procurement, continuous expansion in terms of adding new markets, launching of new products and adding new milk processing capacities across India,” GCMMFL added.
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Amul’s provisional unduplicated group turnover has crossed Rs 50,000 crore. This is also a jump of significant 17% from last year. Amul Federation has over 36 lakh farmer members who work across 18,700 villages of Gujarat. “Amul Federation has achieved turnover inspite of adverse market condition for dairy products at National as well as at International level,” the company said.
Source: Financial Express
