Home / Companies / Company Results /  Patanjali Foods Q3 update: Net profit up 15% to 269 cr, revenue rises 26%

Patanjali Foods Ltd on Wednesday reported 15 per cent rise in net profit to 269.19 crore for the quarter ended December 2022. this is against a net profit of 234.07 crore in the year-ago period, said the company in its regulatory filing.

The revenue from operations rose by 26 per cent to 7926.64 crore compared to 6280.46 crore in the corresponding quarter last fiscal.

The earnings before interest, taxes, depreciation and amortization (EBITDA) grew 97.49 per cent on quarter to 405.15 crore. EBITDA margin for the current quarter stood at 5.11 per cent up by 270 bps as compared to 2.41 per cent in Q2FY23.

"After sharp volatilities and downtrend witnessed in the previous quarters, there has been some stability and revival observed in the quarter ended December 31, 2022. The macro challenges faced earlier in terms of geo-political standoff, soaring inflation, supply constraints, high interest rates and demand concerns have waned a bit," said Patanjali Foods in its regulatory filing.

The food products and others business segment in December quarter achieved sales of Rs. 1,570.08 crore contributing 19.81 per cent of Revenue of the company. The edible oils segment registered sales of 6,066.51 cr contributing 76.53 per cent of revenue of the company.

The branded sales of the company including the institutional segment achieved sales of 6,447.81 crores, which contributes 81.91 per cent of the total sale of products of the company for the period.

The oils and vanaspati segment has achieved sales of Rs. 6,066.51 crore in December quarter, while EBIT in stood at Rs. 176.79 crore.

"The prices of edible oils, the biggest portion of the company’s revenue, stabilized and recovered from the sharp decline witnessed in Q2. Urban demand for FMCG products has been steady while rural demand continues to contract. Festive and marriage season revived the demand for the food products during this quarter," said Patanjali Foods in its filing.

The company's scrip ended 3.85 per cent down 1,160 on BSE.

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