Patanjali Foods Q4 FY24: Revenue rises 4%, net profit falls 22% due to sluggish demand in oil

Patanjali Foods on Tuesday reported a drop of 22 per cent in standalone net profit at Rs 206.32 crore, compared to Rs 263.71 crore in the March quarter of FY23. The Ruchi Soya oil maker’s revenue from operations in the fourth quarter of FY24 rose four per cent to Rs 8,221 crore, compared to Rs 7,873 crore reported in the March quarter of FY23.

Higher prices of everyday items like milk and wheat flour have slowed demand for consumer goods in rural India, causing people to cut back their spending on other essentials as well as discretionary items. 

Baba Ramdev-controlled company's food & FMCG segment said it has touched its highest quarterly revenue of Rs 2,704.61 crore in the March quarter compared to Rs 2,498.62 crore in Q3FY24, recording a sequential growth of 8.24 per cent. The revenue from the food & FMCG segment was 32.57 per cent of total revenue from operations in the current quarter.

The company's total revenue touched Rs 31,721.35 crore from its operations. Of the total revenue, sales from the food and FMCG segment's share was Rs 9,643.32 crore. 

The company's EBITDA was Rs 496.98 crore in Q4FY24 with EBITDA from operation margin of 6.04 per cent. In entire FY24, EBITDA stood at Rs 1,518.82 crore. with EBITDA from operations margin of 4.79 per cent.

Besides, the company declared an interim dividend of Rs 6 per equity share of Rs 2 each. "The board of directors in their meeting held on March 13, 2024 declared an interim dividend of Rs 6 per equity share of Rs 2 each. The record date for payment was March 21, 2024 and the same was paid on March 30, 2024," Patanjali Foods said in a regulatory filing.

The shares of Patanjali Foods Ltd closed at Rs 1,334.45, up by 0.24%.