Mukka Proteins, a leading producer of fishmeal, fish oil, and soluble paste, reported a 151 per cent year-on-year increase in net profit to ₹25 crore on lower cost in the December quarter of FY25.
Revenue was down 40 per cent at ₹280 crore (₹468 crore). However it was up 130 per cent at ₹122 crore when compared to the September quarter.
Profit margin was 8.5 per cent up from 2 per cent y-o-y.
K Mohammed Haris, Managing Director & CEO, said the company has achieved a remarkable recovery while driving sustainable growth despite navigating through one of the highest Total Allowable Catch limits in Peru which impacted pricing.
The focus on efficiency through a cost-effective production model and a diversified customer base has enabled the company to maintain profitability, he said.
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As India’s largest fish meal and oil producer, the company is committed to strengthening global presence and delivering long-term value to stakeholders, he added.
“We intend to scale production, diversify product offerings and expand into new global markets to further solidify our role in the global food security chain,” said Haris.
The first half of FY25 was impacted by delayed fishing quotas in Peru, the world’s largest fishmeal producer.
However, in the December quarter Peru issued one of the highest Total Allowable Catch (TAC) limits in decades, leading to record-high fish catch volumes.
This led to temporary oversupply in the market leading to a decline in fishmeal prices in global markets.
According to industry reports, the global fishmeal and fish oil market is estimated at $9 billion in 2025 and is expected to reach $16 billion by 2030, at a CAGR of 12 per cent between FY25-30.