Patanjali Foods Q4 Results: Net profit falls 22% to ₹206 crore, revenue up 4% YoY; FMCG biz earns record-high sales

Patanjali Foods Q4 Results: Baba Ramdev-led Patanjali Foods announced its January-March quarter results for fiscal 2023-24 (Q4FY24) on Tuesday, May 14, reporting a drop of 22 per cent in standalone net profit at ₹206.32 crore, compared to ₹263.71 crore in the corresponding period last year. Formerly known as Ruchi Soya Industries, the fast-moving consumer goods (FMCG) firm's revenue from operations in the fourth quarter of FY24 rose four per cent to ₹8,221 crore, compared to ₹7,873 crore reported in the year-ago period.

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‘’The board of directors in their meeting held on March 13, 2024 declared an interim dividend of ₹6 per equity share of ₹2 each. The record date for payment was March 21, 2024 and the same was paid on March 30, 2024,'' said Patanjali Foods in a regulatory filing to the stock exchanges today.

Patanjali Foods Q4 Results - Key Metrics

The company's food & FMCG segment achieved an ever highest quarterly revenue of ₹2,704.61 crore in the March quarter compared to ₹2,498.62 crore in Q3FY24, recording a sequential growth of 8.24 per cent. The food & FMCG segment accounted for 32.57 per cent of total revenue from operations in the current quarter.

In the full year, the company achieved a total revenue of ₹31,721.35 crore from its operations. Within this, sales from the food and FMCG segment amounted to ₹9,643.32 crore. The proportion of the revenue contributed by the food & FMCG segment to the total revenue from operations rose to 30.06 per cent in FY24 from 19.49 per cent in FY23.

On the operational front, the company's earnings before interest, taxes, depreciation, and amortization (EBITDA) stood at ₹496.98 crore in Q4FY24 with EBITDA from operation margin of 6.04 per cent. In FY24, EBITDA stood at ₹1,518.82 crore. with EBITDA from operations margin of 4.79 per cent.

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In FY24, the foods and FMCG segment achieved sales of ₹9,643.32 crore compared to ₹6,218.08 crore and it has grown by 55.09 per cent YoY. During FY24, the food & FMCG segment's contribution to the company's overall EBITDA stood at 89.32 per cent, aligning with the goal of enhancing the quality and sustainability of profits

In FY24, the 'Doodh' biscuits brand accomplished a noteworthy achievement by exceeding ₹1,000 crore revenue mark. The edible oil segment achieved sales of ₹5,588.96 crore during Q4FY24 registering a sequential topline growth of 1.94 per cent. For FY24, the segment revenue stood at ₹22,383.79 crore compared to ₹25,634.45 crore in FY23.

The volumes in Q4FY24 increased by five per cent and 13.16 per cent in FY24. The growth in volume was achieved at the back of the expanded distribution reach and superior offering to consumers. The segment EBITDA increased by 24.71 per cent to ₹134.27 compared to ₹107.67 crore reported in Q3FY24. Ahead of the announcement of Q4FY24 results, shares of Patanjali Foods settled 0.24 per cent higher at ₹1,334.45 apiece on the BSE.