Patanjali Foods Ltd has achieved a significant increase in their net profit, reaching Rs 254.53 crore in the second quarter of the fiscal year. The company has also made a strategic move by bringing former Indian cricket team captain, M S Dhoni, on board as the brand ambassador for its Mahakosh and Sunrich brands.
In the previous year, the net profit stood at Rs 112.28 crore during the same period. However, total income has declined to Rs 7,845.79 crore from Rs 8,524.67 crore. Total expenses also fell to Rs 7,510.71 crore from Rs 8,371.03 crore.
Patanjali Foods announced that M S Dhoni’s influential presence will complement its health-oriented edible oil range. The Food & FMCG segment achieved revenue of Rs 2,487.62 crore in the second quarter. The company also achieved export sales of Rs 41.65 crore during the July-September quarter, exported to 23 countries.
CEO of Patanjali Foods, Sanjeev Asthana, reflected on the positive outcome despite the challenging macro and operating environment. He highlighted the strong growth in profitability metrics and the expansion of the Food & FMCG segment’s contribution to the overall financial performance.
Despite these achievements, Patanjali Foods shares dropped by 1.17 per cent to Rs 1,438 on BSE. These developments indicate a significant step forward for the company as it continues to expand its operations and reach.
I have over 10 years of experience in the cryptocurrency industry and I have been on the list of the top authors on LinkedIn for the past 5 years.