Patanjali Foods delivered stellar first-quarter results on Friday with net profit surging 86 percent year-on-year to Rs 335.73 crore. The company also announced a dividend of Rs 2.30 per share for its shareholders. Its quarterly revenue crossed the Rs 11,000 crore mark for the first time during the April-June period.
Strong Profit Growth Driven by Record Revenue
The company net profit for the June quarter stood at Rs 335.73 crore, up sharply from Rs 180.36 crore in the same period last year. Patanjali Foods recorded its highest-ever quarterly revenue of Rs 11,337.45 crore, registering a 29 percent increase from Rs 8,766 crore in the year-ago quarter.
EBITDA Rises 69 Percent on Operational Efficiency
The company EBITDA grew 69.10 percent to Rs 543.27 crore compared with Rs 321.15 crore in the corresponding quarter last year. The food products segment was the biggest revenue contributor, generating Rs 8,504.72 crore with a 27 percent year-on-year growth. The biscuit division also performed well in the quarter with total revenue of Rs 560.14 crore.
Dividend Declared at Rs 2.30 Per Share
The board declared a dividend of Rs 2.30 per share for the first quarter to reward shareholders. The stock will trade ex-dividend on August 21. Earlier in April, the company had distributed a dividend of Rs 1.75 per share to eligible investors. Patanjali Foods had also issued bonus shares in a 1:2 ratio last year.
Stock in Focus on Monday
Patanjali Foods shares closed at Rs 353 on the BSE on Friday after the earnings announcement. The stock has fallen 40 percent over the past one year and declined 39 percent over two years. Market experts expect the stock to remain in focus when trading resumes on Monday following the strong quarterly earnings report.
