Patanjali Foods Limited Reports Strong Financial Performance in Q2FY24
Key Points
Patanjali Foods Limited, formerly Ruchi Soya Industries Limited, has unveiled its unaudited financial results for the Quarter/Half year ending September 30, 2023.
New Delhi, Nov 9: Patanjali Foods Limited, formerly Ruchi Soya Industries Limited, has unveiled its unaudited financial results for the Quarter/Half year ending September 30, 2023. The company's Q2FY24 total revenue from operations reached ₹7,821.89 crores and ₹15,588.98 crores in H1FY24. The Food & FMCG segment played a significant role, contributing 31.80% to Q2FY24 revenue, a notable increase from 25.14% in Q1FY24 and 27.7% in Q2FY23.
In this quarter, the company achieved an EBITDA of ₹419.20 crores, marking a remarkable 97.75% increase QoQ. The Profit After Tax (PAT) for Q2FY24 stood at ₹254.54 crores, compared to ₹112.29 crores in Q2FY23. Patanjali Foods also made strides in the international market, with export sales totaling ₹41.65 crores, reaching 23 countries.
Despite challenges in the Edible Oil segment due to pricing pressure caused by excessive imports, the company recorded positive growth. The Premium Oils segment experienced exceptional growth, reflecting high market demand. Branded sales remained robust, constituting over 75% of total Edible Oil sales.
📱 Get Argus News App
✨Patanjali Foods' strong financial performance demonstrates its resilience and strategic focus, fostering optimism for the company's future endeavors.
Also Read: Business News