Patanjali Foods Ltd Sees Three-Fold Profit Jump Despite Revenue Dip

Patanjali Foods Ltd, operating in the edible oils and FMCG sectors, reported a three-fold increase in standalone net profit to Rs 262.90 crore for the first quarter, despite lower overall income. The company's total income dropped from Rs 7,810.50 crore to Rs 7,202.35 crore, with the edible oils segment leading sales.

Patanjali Foods Ltd, a key player in the edible oils and FMCG sectors, has reported a remarkable three-fold increase in its standalone net profit for the first quarter of this fiscal year, reaching Rs 262.90 crore. This significant profit surge comes despite a decline in overall income.

In comparison, the company's net profit was Rs 87.75 crore during the same period last year. However, total income for the quarter dropped to Rs 7,202.35 crore, down from Rs 7,810.50 crore in the corresponding period of the previous year.

Patanjali Foods' edible oils segment achieved sales of Rs 5,330.33 crore in the April-June quarter, compared to Rs 5,890.73 crore in the previous year. The company's food and FMCG segment's revenues remained relatively flat at Rs 1,953.55 crore. Incorporated in 1986 and formerly known as Ruchi Soya Industries, Patanjali Foods Ltd is a significant entity in India's FMCG market, with products marketed under well-known brands like Patanjali, Ruchi Gold, and Nutrela.

(With inputs from agencies.)