Venky’s in India saw its bottom line slashed by high raw material costs. The company reported an 80% decline in profits in Q3 2022, compared to the same period in 2021. Meanwhile, its total expenses for the quarter rose by 35%. “The profit margin of the poultry and poultry products segment for the quarter and for the nine months ended December 31, 2021 were affected by steep rises in the prices of feed ingredients, especially soy, which has seen an unprecedented increase,” the company said.