Patanjali posts 31 pc decline in net profit during second quarter

Haridwar (Uttarakhand) [India], November 13 : The Patanjali Foods has posted a decline of 31.6 per cent in its standalone net profit to Rs 112.30 crore in the quarter ended September 30, against Rs 164.30 crore net profit in the year-ago period.
The fast-moving consumer goods firm has posted a jump of 42 per cent in its standalone revenue to Rs 8,514 crore against Rs 5,995 crore in the year-ago period.
The FMCG's standalone operating profit or Ebidta was down 41.1 per cent to Rs 194.6 crore, against Rs 330.2 in the corresponding period the previous year.
The company said its margin was 2.3 per cent against 5.5 per cent in the year-ago period.
The company said demand remained challenging with persisting high inflation along with monetary/fiscal measures taken by the government including the continuation of stock limits on oils and oilseeds, governments insistence on reduction in retail edible oil prices and passing of price benefits to the consumers.
According to the company statement, the foods business achieved sales of Rs 2,399.66 crore contributing 37.18 per cent of the total branded sales of the company. It also added that branded sale including the institutional segment achieved sales of Rs 6,453.45 crore, making up more than 77 per cent of the total sale of products of the company for the period.
The Haridwar-headquartered company was founded by Ramdev and Balkrishna in 2006. Its office is in Delhi, with manufacturing units and headquarters in the industrial area of Haridwar. The company manufactures cosmetics, ayurvedic medicine, personal care and food products. The chief exexutive officer (CEO) of the company, with a 94-percent share hold, is Balkrishna. Ramdev represents the company and makes strategic decisions.
The company's shares closed at Rs 1,272 apiece on BSE, a decline of 1.62 per cent over the previous session, on Friday. In the past five days, the shares had been declining about 5.64 per cent, according to the stock exchange.