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2 min read | Updated on July 22, 2024, 17:36 IST
SUMMARY
Patanjali Foods reported a three-fold rise in its standalone quarterly net profit after tax (PAT) at ₹262.9 crore for the June 2024 quarter, compared to ₹87.75 crore in Q1FY24. However, its revenue from operations dropped 7.6% YoY.
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Patanjali Foods shares rise nearly 3% on three-fold increase in Q1 net profit
The fast-moving consumer goods manufacturer’s net profit in Q1FY25 increased nearly 200% year-on-year compared to ₹87.75 crore in Q1FY24.
Patanjali Foods shares rallied as much as 2.86% to an intraday high of ₹1,640 apiece on the NSE after opening marginally lower at ₹1,591 apiece. However, the FMCG stock pared early gains to close 0.36% higher at ₹1,600 apiece on the NSE.
Patanjali Foods, in its quarterly results filed with stock exchanges on July 19, reported a 7.6% drop in revenue from operations to ₹7,173.06 crore in the June quarter, compared to ₹7,767.1 crore in the same quarter of the preceding financial year.
The company achieved an EBITDA (earnings before interest, tax, depreciation and amortisation) of ₹435.08 crore in Q1FY25, up from ₹211.99 crore in the same quarter last year, reflecting a two-fold increase year-on-year and a 4.08% rise quarter-on-quarter. The EBITDA margin for Q1FY25 stood at 6.07%, compared to 5.08% in the previous quarter.
The company’s Food and FMCG segment sales remained flat at ₹1,953.55 crore YoY in the June quarter. The company generated ₹53.33 crore in export revenue. It has widened its reach by entering new markets, marking its presence in 22 countries.
The company attributed its strong quarterly performance to more stable edible oil prices and consistent results in the Food and FMCG sector. Patanjali Foods Limited added that it gained from the rise of new-age distribution channels, such as e-commerce and quick commerce.
Patanjali Foods Limited operates in the FMCG sector, focusing on edible oils, food and other consumer goods. The company has also diversified into wind power generation. Its product portfolio includes brands like Patanjali, Ruchi Gold, Mahakosh and Nutrela.
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