Patanjali Foods shares in news as profit surges three fold in Q1

Shares of Patanjali Foods Ltd are in news today after the FMCG firm reported a three-fold rise in its standalone net profit to Rs 262.90 crore in June 2024 quarter. Net profit stood at Rs 87.75 crore in the year-ago period.  However total income fell to Rs 7,202.35 crore in the April-June quarter of this fiscal from Rs 7,810.50 crore in the corresponding period of the previous year.

The company's food and FMCG segment's revenues remained flat at Rs 1,953.55 crore.

Sales in the edible oils segment slipped to Rs 5,330.33 crore in the June 2024 quarter compared to Rs 5,890.73 crore in the year-ago period.

Patanjali Foods shares ended 0.74% lower at Rs 1591.15 on Friday against the previous close of Rs 1602.95 on BSE. Patanjali Foods shares have gained 19.46% in a year and risen 49.59% since the beginning of this year.  The stock has risen 0.62% in six months. Total 0.47 lakh shares changed hands amounting to a turnover of Rs 7.35 crore on BSE. Market cap of the firm stood at Rs 57,599 crore.