Patanjali Foods shares extend gains for second day after Q4 results

Shares of Patanjali Foods gained as much as 4.11% to hit an intraday high of ₹1,390 apiece on the NSE. The edible oil producer’s stock closed 3.6% higher at ₹1,383 apiece, extending the gains for the second straight day.

In its Q4 results released on Tuesday, Patanjali Foods reported a nearly 6% year-on-year (YoY) growth in revenue at ₹8,348 crore for the March quarter compared to ₹7,963 crore in the corresponding quarter of FY23.

The company’s earnings before interest, tax, depreciation and amortisation (EBITDA) for Q4FY24 stood at ₹497 crore, up 19.47% YoY compared to ₹416 crore in Q4FY23.

However, the company’s net profit declined 22% to ₹206.32 crore in the March 2024 quarter, compared to ₹263.71 crore in the same period a year ago.

The company said in the filing that its food and FMCG segment achieving the highest-ever quarterly revenue of ₹2,704.61 crore in the March 2024 quarter, up from ₹2,498.62 crore in the previous quarter of FY24, marking a growth of 8.24%. The segment contributed 32.57% to the total revenue from operations in the current quarter, the company informed the stock exchanges.

In the full fiscal year, Patanjali Foods Limited reported revenue from operations at ₹31,721.35 crore, a slight increase from ₹31,524.65 crore in the year ended March 31, 2023.

The company also said that its board approved an interim dividend of ₹6 per equity share of ₹2 each. The record date for payment was March 21, and the dividend was disbursed on March 30. This final dividend is subject to the approval of the company’s members at the forthcoming annual general meeting.