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Updated: 13. Nov 2022 15:24 IST
Haridwar (Uttarakhand) [India]November 13 (ANI): The Patanjali Foods posted a 31.6 percent decline in its standalone net profit to Rs 112.30 crore in the quarter ended September 30, against Rs 164.30 crore net profit in the year-ago period.
The fast-moving consumer goods company posted a 42 percent jump in its standalone revenue to Rs 8,514 crore against Rs 5,995 crore in the year-ago period.
The FMCG’s standalone operating profit or Ebidta declined by 41.1 percent to Rs 194.6 crore, against Rs 330.2 crore in the corresponding period the previous year.
The company said its margin was 2.3 percent versus 5.5 percent in the year-ago period.
The company said demand remained difficult due to continued high inflation coupled with monetary/fiscal measures taken by the government including continuation of stock limits for oils and oilseeds, governments insisting on reduction in retail price of edible oil and passing on price benefits to the consumers.
According to the company statement, the food business achieved sales of Rs 2,399.66 crore contributing 37.18 percent of the company’s total branded sales. It also added that brand sales including the institutional segment reached sales of Rs 6,453.45 crore, accounting for over 77 percent of the company’s total product sales for the period.
The Haridwar-headquartered company was founded by Ramdev and Balkrishna in 2006. Its office is in Delhi, with production units and headquarters in the industrial area of Haridwar. The company manufactures cosmetics, ayurvedic medicine, personal care and food products. The company’s chief executive officer (CEO), with a 94 percent shareholding, is Balkrishna. Ramdev represents the company and makes strategic decisions.
The company’s shares closed at Rs 1,272 on BSE, down 1.62 percent over the previous session, on Friday. In the past five days, the stock is down about 5.64 percent, according to the stock exchange. (ANI)
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