Baba Ramdev-led Patanjali Foods Ltd, which is into the edible oil and FMCG businesses, on Thursday (February 8) reported a 19.6% year-on-year (YoY) dip in net profit at ₹216.5 crore for the third quarter that ended December 31, 2023.
In the corresponding quarter last year, Patanjali Foods Ltd posted a net profit of ₹269.2 crore, the company said in a regulatory filing. The company's revenue from operations declined 0.2% to ₹7,910.7 crore as against ₹7,926.6 crore in the corresponding period of the preceding fiscal.
At the operating level, EBITDA declined 6.5% to ₹344.1 crore in the third quarter of this fiscal over ₹367.9 crore in the corresponding period in the previous fiscal.
EBITDA margin stood at 4.4% in the reporting quarter as compared to 4.6% in the corresponding period in the previous fiscal. EBITDA is earnings before interest, tax, depreciation, and amortisation.
The Food & FMCG segment achieved highest quarterly revenue of ₹2,498.62 crore in Q3 of FY24 against ₹1,523.11 crore in Q3 of FY23, achieving a growth of 64.05%. The Food & FMCG segment accounted for 31.59% of total revenue from operations in the current quarter.
In nine months of FY24, the company achieved total revenue from operations of ₹23,499.69 crore of which Food and FMCG segment sales were ₹6,938.71 crore. The contribution of the Food & FMCG segment to the total revenue from operations increased to 29.53% in 9M of FY24 from 18.66% in 9M of FY23.
The planted area for oil palm plantations increased to 72,500 hectares, registering a growth of 5.84% in Q3 of FY24. In Q3, the revenue from exports increased by 49.02% over the previous quarter to ₹62.06 crore. In 9M of FY24, revenue from exports was ₹266.17 crore.
In line with the quarterly trends, revenue from the wind turbine power generation segment during Q3 of FY24 stood at ₹8.93 crore, whereas for 9M of FY24, the revenue was ₹43.94 crore. In Q3 of FY24, the advertisement spending increased by more than 2x to ₹28.53 crore impacting the EBITDA.
HomeEarnings NewsPatanjali Foods Q3 Net Profit Dips 20% To ₹217 Crore, Revenue At ₹7,911 Crore
Patanjali Foods Q3 net profit dips 20% to ₹217 crore, revenue at ₹7,911 crore
The results came after the close of the market hours. Shares of Patanjali Foods Ltd ended at ₹1,663.55, up by ₹30.95, or 1.90%, on the BSE.
Patanjali Foods Q3 net profit dips 20% to ₹217 crore, revenue at ₹7,911 crore
Baba Ramdev-led Patanjali Foods Ltd, which is into the edible oil and FMCG businesses, on Thursday (February 8) reported a 19.6% year-on-year (YoY) dip in net profit at ₹216.5 crore for the third quarter that ended December 31, 2023.
In the corresponding quarter last year, Patanjali Foods Ltd posted a net profit of ₹269.2 crore, the company said in a regulatory filing. The company's revenue from operations declined 0.2% to ₹7,910.7 crore as against ₹7,926.6 crore in the corresponding period of the preceding fiscal.
At the operating level, EBITDA declined 6.5% to ₹344.1 crore in the third quarter of this fiscal over ₹367.9 crore in the corresponding period in the previous fiscal.
EBITDA margin stood at 4.4% in the reporting quarter as compared to 4.6% in the corresponding period in the previous fiscal. EBITDA is earnings before interest, tax, depreciation, and amortisation.
The Food & FMCG segment achieved highest quarterly revenue of ₹2,498.62 crore in Q3 of FY24 against ₹1,523.11 crore in Q3 of FY23, achieving a growth of 64.05%. The Food & FMCG segment accounted for 31.59% of total revenue from operations in the current quarter.
In nine months of FY24, the company achieved total revenue from operations of ₹23,499.69 crore of which Food and FMCG segment sales were ₹6,938.71 crore. The contribution of the Food & FMCG segment to the total revenue from operations increased to 29.53% in 9M of FY24 from 18.66% in 9M of FY23.
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