Parle Agro FY24 revenue down 12% to Rs 3,126 crore, profit slides 89%

Parle Agro, which operates in the beverage market with brands such as Frooti, Appy, SMOODH and Bailley, has reported a 12.3 per cent decline in its consolidated revenue to Rs 3,126.06 crore for FY24, according to an RoC filing from the company.

Its total profit plummeted 89.1 per cent to Rs 17.29 crore for the financial year ended on March 31, 2024, according to financial data accessed through the business intelligence platform Tofler.

Parle Agro Pvt Ltd, an unlisted entity which operates in the Indian beverage industry, posted revenue from operations of Rs 3,565.96 crore and a profit of Rs 158.78 crore in FY23.

The total consolidated income of Prakash J Chauhan-led Parle Agro was 12.15 per cent lower at Rs 3,209.43 crore in FY24. The same stood at Rs 3,653.48 crore in FY23.

Its revenue from domestic sales was Rs 3,061.10 crore and exports at Rs 26.81 crore in FY24.

The company's 'advertising promotional expenses' were 17.7 per cent higher at Rs 278.38 crore in FY24 compared to Rs 236.49 crore a year ago.

Its total expenses were Rs 3,194.28 crore, down 8.19 per cent in FY24.