Kernel's net profit for Q1 FY 2018 decreased by 64%

Kernel reduced net profit for the Q1 FY 2018 by 64.4% to USD 22.8 million vs. USD 64.1 million a year ago.

According to the company's report, EBITDA declined by 36.5% y-o-y to USD 46.0 million.

It is noted that during Q1 FY 2018, the company's revenues increased by 39.6% y-o-y to USD 536.1 million, primarily driven by higher sale volumes of sunflower oil.

"As of 30 September 2017, net debt increased to USD 506.3 million, up from USD 326.2 million last year, as we completed two acquisitions in farming with total investments of over US$ 200 million. Notably, our net debt position stayed strong with marginal decrease of 1.5% from its end of FY2017 position," it is stated in the report.

Reference: Kernel tops the raiting of the employers of the year according to Focus magazine.