Baba Ramdev-backed Patanjali Foods profitability dips by 32% yoy to ₹112 cr in Q2. Here's why
- Patanjali Foods said, during the quarter, the edible oil industry witnessed pressure on margins largely attributed to the volatility in global prices of various edible oils which fell by almost $400-500 per ton in these 3 months.
Baba Ramdev-backed Patanjali Foods recorded a decline in profitability for the quarter that ended September 30, 2022 (Q2FY23) period. The company garnered a net profit of ₹112.28 crore in Q2FY23 down by 31.65% from a PAT of ₹164.27 crore in Q2FY22. Also, sequentially, its Q2 PAT dipped by a whopping 53.5% from ₹241.25 crore in Q1FY23. On the profitability front, the company witnessed multiple headwinds in the edible oil segment during the quarter.
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