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Business News/ Companies / Company Results/  Baba Ramdev's Patanjali Ayurved posts 22% jump in net profit to 424.72 crore in FY 2019-20

Patanjali Ayurved Ltd posted a 21.56% jump in standalone net profit to 424.72 crore for financial year 2019-20, according to data provided by Tofler, news agency reported. The company had reported a net profit of 349.37 crore for the 2018-19 financial year, it said.

Revenue from operations increased to 9,022.71 crore, up 5.86% year-on-year for the financial year ended on 31 March, 2020. The company registered a revenue of 8,522.68 crore in the year-ago period.

Total revenue stood at 9,087.91 crore in FY 2019-20, as against 8,541.57 crore in the financial year ended 3March, 2019. Total expenses of Patanjali Ayurved jumped 5.34% year-on-year to 8,521.44 crore.

Patanjali Ayurved's Profit Before Tax was up 25.12% to 566.47 crore for FY 2019-20. It was 452.72 crore in the year-ago period, as per the data. Its revenue from 'other income' was up three fold during the fiscal under review to 65.19 crore, from 18.89 crore of the FY 2018-19.

Commenting on the results, yoga guru Baba Ramdev told PTI, "Last fiscal was very challenging for us, in which we had acquired Ruchi Soya. Despite financial challenges, we have worked uninterrupted."

"Even during the lockdown, except some days when movement was not allowed, we have not stalled our services. Other companies took one to two months to handle the situation... we started the production from the first day as we have our own transportation and distribution lines," he said.

While talking about the outlook, Ramdev said this fiscal, the company would have "unparalleled growth" as consumers are having more trust on Patanjali's product because of "purity and faith" along with its "affordability".

"We would have higher growth this fiscal than the previous fiscal and higher turnover," he said, adding, some segments as Divya Pharmacy, its ayurvedic manufacturing unit, would have higher growth.

Patanjali Ayurved is mainly into Fast-Moving Consumer Goods (FMCG) business and ayurvedic medicines. The company has 6 directors and 2 reported key management personnel. In December last year, the Haridwar-based acquired the bankrupt Ruchi Soya for 4,350 crore, maker of soya food brand Nutrela through an insolvency process.

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Updated: 13 Nov 2020, 05:08 PM IST
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