Haridwar: Shares of fast-moving consumer goods firm Patanjali Foods surged 3.18 per cent to Rs 1,054 apiece at 3 pm on Wednesday. According to BSE, in a span of five days, its shares rose 2.51 per cent.
Patanjali Foods has posted a 12.49 per cent rise in its profit after tax to Rs 263.71 crore for the quarter ended March 31, 2023, against Rs 234.43 crore in the year-ago period. According to a statement released on Tuesday night from the Haridwar-headquartered firm, its revenue went up 18.14 per cent to Rs 7,872.92 crore in the quarter under review, against Rs 6,663.72 crore in the year-ago period. Its earning before interest, taxes, depreciation and amortisation (Ebitda) went down to Rs 416.34 crore from Rs 418.54 crore in the year-ago period. Other income jumped to Rs 90.03 crore from Rs 12.47 crore in the year-ago period. In respect of edible oils, sales volume increased to 1.97 million tonne, registering a growth of 21 per cent while the share of foods and FMCG business has increased from 7 per cent in FY22 to 20 per cent in FY23. Branded sales for FY23 is 77.09 per cent of annual turnover with 30.20 per cent year-on-year growth. The company said, "During FY23, the edible oil industry witnessed a shaky market condition due to the sharp decline in edible oil prices. It has impacted on the overall revenue levels as well as gross margins for oil business of the company." The board of directors have recommended a dividend of Rs 6 per share for FY2023. —ANI