 "Patanjali")
Patanjali Foods, on Tuesday, posted a net profit after tax of Rs 264 crore for the March quarter. This is 12.8 per cent rise from Rs 234 crore a year ago, the company statement said.
The company’s total revenue from operation rose by 18.14 per cent to Rs 7,873 crore for the March quarter as compared to Rs 6,664 crore in the year-ago period.
In a regulatory filing, the company said, “The board of directors has recommended a dividend of Rs 6per equity share on 36,19,18,554 (net of 76,299 treasury shares) equity shares of Rs 2 each for the financial year ended March 31, 2023 and the same shall be payable subject to approval of the Shareholders at the ensuing annual general meeting (‘AGM’) of the company.”
"The food products under Patanjali brand are gaining market acceptance to sustain the growth as recorded in last three quarters of (fiscal) 2022-23," the Ruchi-branded cooking oil maker said in an exchange filing.
Revenue from its packaged foods business that sells a range of products including honey and juices reported a four-fold jump.
Sales of consumer goods have improved since the beginning of the year as people in rural India are buying more, with inflation coming off its highs even though a few essentials like milk are still costly.
Patanjali also said it would continue to invest in its brands of oil while expanding geographically.
Shares closed nearly 1 per cent higher ahead of the results. The stock fell 14.4 per cent in the January-March quarter.
Other consumer goods names have reported mixed results: Dabur India and Dove-soapmaker Hindustan Unilever reported shrinking margins due to high costs, while cooking oil seller Marico and Pepsi bottler Varun Beverages posted solid earnings.
(With inputs from Reuters)
