Patanjali Foods Q4 Results: Net profit rises 13% YoY to Rs 264 crore; dividend declared at Rs 6/share

Patanjali Foods on Tuesday reported 13% growth in standalone net profit at Rs 264 crore for the three months ended March period. The profit stood at Rs 234 crore in the same period last year.

Revenue from operations during the quarter under review rose 18% to Rs 7,873 crore as against Rs 6,664 crore in the corresponding quarter of last year.

The Board has recommended a dividend of Rs 6 (300%) per equity share on the face value of Rs 2 each for the financial year ended March 2023.

The FMCG company has clocked an EBITDA of Rs 416 crore in the reporting period, down marginally from Rs 418 crore reported in the year-ago period.

Segment wise, revenue from food and FMCG segment more than tripled to Rs 1,805 crore in the fourth quarter, compared with Rs 452 crore a year ago.

Edible oil revenues during the quarter stood at Rs 6,058 crore, down 2% from Rs 6,201 crore in the same quarter last year.

The company said its food products under Patanjali brand are gaining the market acceptance to sustain the growth as recorded in last three quarters of FY23, majorly after completion of food business acquisition.

The revenue and EBIT margins for food business continue to remain strong as food and FMCG contributes over 68.30% in EBIT in FY23.

Patanjali Foods said it continues to sustain its EBIDTA margins in spite of rising inflation levels, macro challenges as well as managing costs.

The food and FMCG business EBIDTA contribute healthy margin over 14.20% in Q4 in overall margins of the company.

In edible oils segment, sales volume increased to 1.97 million mt registering 21% growth, while share of foods and FMCG business has increased from 7% in FY22 to 20% in FY23.

Branded sales for FY23 is 77.09% of annual turnover, with 30.20% year-on-year growth.

For FY23, the total income stood at Rs 31,821 crores, higher by 31%, as against Rs 24,284.38 crore in FY22. PAT during the same period rose 10% YoY to Rs 886 crore. On Tuesday, Patanjali Foods shares rose 0.77% to Rs 1,021 on NSE.