New Delhi: In the first quarter ended June 30, 2024, Patanjali Foods, an Indian FMCG company, announced a 200 per cent rise in net profit to Rs 262.9 crore. The company had announced a net profit of Rs 87.8 crore in the same period last year.
Nevertheless, the company experienced a 7.6 per cent decrease in net sales, dropping from Rs 7,767 to Rs 7,173 crore in the first quarter compared to the same period last year.
The company attributed the profitability to lower volatility in edible oil prices and steady performance in the food and FMCG portfolio, according to a statement. "We are witnessing an increase due to modern channels such as online shopping and fast delivery services," it included. During the first quarter of FY25, the food and FMCG segment generated Rs 1,953.55 crore in revenue, representing 26.77 percent of the company's total sales, up from 24.84 percent in the previous year's Q1.
During the same period, sales in the edible oil sector totaled Rs 5,330.33 crore, with branded edible oil sales making up approximately 79.54 pc of the total.
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