New Delhi [India]July 20 (ANI): Patanjali Foods' net profit surged to Rs 2,629 crore in the first quarter of fiscal year 2024-25 (Q1FY25) compared to the same period last year, the company reported in a stock exchange filing.
The company reported a threefold increase in profits in the first quarter of this fiscal year from Rs 880 crore in the same period last year.
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The company also reported standalone revenue of Rs 7,173.06 crore for the first quarter of fiscal year 2024-25. The company's EBITDA doubled year-on-year to Rs 435.08 crore and grew 4.08 per cent quarter-on-quarter.
The company also said its EBITDA margin as a percentage of operating revenue in Q1FY25 stood at 6.07 per cent, up from 5.08 per cent in the previous quarter.
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Revenue from food & FMCG segment remained flat at Rs 1,953.55 crore during the quarter. However, the segment's revenue as a percentage of operating revenue increased to 26.77% in Q1FY25 from 24.84% in the same period last year.
The company's export revenue stood at Rs 533.3 crore in the first quarter of FY25. The company has added new markets to its export portfolio, which now spans 22 countries. The company also said that its products are also available on e-commerce platforms in global markets.
Patanjali Foods reported a healthy quarter with revenue metrics showing robust growth year-on-year, it added. The growth was primarily due to lower edible oil price volatility and stable performance of food and FMCG portfolio. The company has also benefited from new-age channels such as e-commerce and quick commerce.
In the food and FMCG business, the company recorded revenue of Rs 1,953.55 crore in Q1FY25, accounting for 26.77% of the company's operating revenue.
The company continued to focus on growth in its biscuits segment, which registered a growth of 9.41 percent YoY. In Q1FY25, the company's biscuits business achieved revenues of Rs 4,170.3 crore.
The company added that new launches of premium biscuits contributed to the growth in the portfolio. The 'Doodh' biscuit brand posted quarterly sales of Rs 2,657.7 crore, up 6.97 per cent year-on-year, up from Rs 2,484.6 crore in Q1FY24. (ANI)
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