Dodla Dairy Ltd on Thursday reported a 54 per cent increase in its consolidated net profit at Rs 63.56 crore for the quarter ended December on higher income. Its net profit stood at Rs 41.33 crore in the year-ago period. Total income rose to Rs 912.2 crore in the third quarter of this fiscal from Rs 752.5 crore in the corresponding period of the preceding year, according to a regulatory filing. "The board has approved Rs 280 crores capex for setting up new plant & machinery and necessary infrastructure at Maharashtra, which includes previous approval Rs 15 crore for land acquisition. The funding shall be through internal accruals/debt," the Hyderabad-based firm said in the filing. "During the quarter, we reported a healthy 21 per cent revenue growth on a Y-o-Y basis while maintaining our margins, thanks to the healthy festive demand coming in just as we anticipated. Based on our strong relations with the farmers, procurement remained stable at 17.1 lakh litre per day," said Dodla .