Patanjali foods profit surges on boost from new-age channels like e-commerce and quick commerce

New Delhi [India], July 20 (ANI): The net profit of Patanjali foods surged to Rs 262.90 crore Year-on-Year during the first quarter of the financial year 2024-25 (Q1FY25), the company informed the exchange in a filing.

The company reported a three-fold rise in profit year-on-year during the first quarter of this financial year, compared to Rs 88 crore in the same quarter of the previous fiscal year,

The company also reported standalone revenue of Rs 7,173.06 crore during the first quarter of FY 2024-25. The EBITDA of the company registered a twofold growth to Rs 435.08 crore year on year, and a 4.08 per cent increase on a quarter-on-quarter basis.

The company also stated that in Q1FY25, the EBITDA margin was 6.07 per cent, up from 5.08 per cent in the previous quarter on revenue from operations.

The Food & FMCG segment’s revenues remained flat at Rs 1,953.55 crore during the quarter. However, the proportion of revenue contributed by this segment to revenue from operations rose to 26.77 per cent in Q1FY25, compared to 24.84 per cent in the same quarter last year.

The export revenue of the company stood at Rs 53.33 crore in Q1FY25. The company has added new markets to its export portfolio, now reaching 22 countries. The company also stated that its products are also available on e-commerce platforms in global markets.

Patanjali Foods added that it reported a healthy quarter, with profitability metrics showing solid growth on a year-on-year basis. This growth was largely driven by reduced volatility in edible oil prices and stable performance in the Food & FMCG portfolio. The company is also benefiting from new-age channels like e-commerce and quick commerce.

In the Food and FMCG business, the company recorded revenues of Rs 1,953.55 crore in Q1FY25, contributing to 26.77 per cent of the company’s revenue from operations.

The company continued its focus on growing the biscuits division, registering a growth of 9.41 per cent on a year-on-year basis. In Q1FY25, the biscuit business of the company has achieved revenue of Rs 417.03 crore.

The company added that new launches of premium biscuits contributed to the growth of this portfolio. The ‘Doodh’ biscuit brand exceeded its previous performance by 6.97 per cent on a year-on-year basis, with quarterly revenue of Rs 265.77 crore compared to Rs 248.46 crore in Q1FY24.