Patanjali Foods, Baba Ramdev-backed FMCG company, reported a 31.6 per cent decline in net profit to Rs 112.2 crore in the quarter that ended September 30, 2022 (Q2 FY23) , against Rs 164.3 crore registered in the same quarter last year (Q2 FY22).
The company said in an exchange filing that its operating revenue increased 42 per cent to Rs 8,514 crore from Rs 5,995 crore in the same quarter last year.
Total income for the quarter was Rs 8,524 crore, up 41.82 per cent from Rs 6,010 crore in Q1 FY22.
The FMCG company’s EBITDA (Earnings before interest, taxes, depreciation, and amortization) for the three months ending September 30, 2022, was Rs 205.15 crores, with Rs 153.63 crores of Profit Before Tax.
The foods segment generated revenue of Rs 2,399.66 crores, or 37.18 per cent of the company’s total branded sales. Branded sales, which include the institutional segment, generated sales of Rs 6,453.45 crores, accounting for 77.02 per cent of the company’s overall product sales during that time.
In terms of profitability, Patanjali Foods reported that the edible oil market faced numerous challenges during the quarter. Edible oil prices fell significantly during the quarter as a result of macro factors affecting the demand-supply dynamic in the industry.
Commenting on its performance during the quarter, it claimed that despite operating in a difficult consumer environment with a volatile, downward price regime, the company showed a sustained performance.