Patanjali Foods shares in focus today post Q4 earnings; check details

Shares of Patanjali Foods Ltd are in focus today after the Baba Ramdev-led firm reported a 13 per cent rise in standalone net profit at Rs 264 crore for the quarter ended March 2023 against a net profit of Rs 234 crore in the year-ago period.

On Tuesday, Patanjali Foods shares gained 0.77% to Rs 1021.70 compared to the previous close of Rs 1013.90 on BSE. Shares of Patanjali Foods opened flat at Rs 1013.90 on BSE. Patanjali Foods shares have lost 8% in a one year and fallen 14.37% since the beginning of this year. Total 0.14 lakh shares changed hands amounting to a turnover of Rs 1.41 crore on BSE. Market cap of the firm rose to Rs 36,985 crore.

In terms of technicals, the relative strength index (RSI) of the Patanjali Foods stock stands at 65.6, signaling it's trading neither in the overbought zone nor in the oversold zone. Patanjali Foods shares have a beta of 1.1, indicating high volatility in a year. Patanjali Foods stock stands higher than the 5 day, 20 day, 50 day and 100 day moving averages but lower than 200 day moving averages.

The board announced a final dividend of Rs 6 (300 per cent on the face value of Rs 2 per share) for FY23. The company said that dividend is subject to approval of the shareholders at the ensuing Annual General Meeting.

Revenue rose 18 per cent to Rs 7,873 crore in the March 2023 quarter as compared to Rs 6,664 crore a year ago. Other income zoomed almost 650% to Rs 90 crore against Rs 12 crore a year ago. On an annual basis, Patanjali Foods logged total income of Rs 31,821 crore reporting 31 per cent compared to the previous year. Revenues for food and FMCG segment rose to Rs 6,218 crore as compared to Rs. 1,683 crore on YoY basis.

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