India’s largest shrimp feed producer Avanti Feeds saw its earnings before interest, taxes, depreciation and amortization (EBITDA) plummet nearly 60 percent in the second quarter of its 2019 financial year, primarily due to a hike in raw material costs.
During the period, EBITDA fell 58 percent to INR 837 million (€10.4 million/$11.8 million) down from INR 2 billion (€24.9 million/$28.3 million) in the second quarter of 2018.
Meanwhile, overall revenues in the quarter fell 11.6
