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Patanjali Foods slides as PAT declines 20% YoY in Q3 FY24

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Patanjali Foods slipped 5.06% to Rs 1,579.40 after the FMCG company's standalone net profit fell 19.56% to Rs 216.54 crore in Q3 FY24 as compared with Rs 269.19 crore posted in Q3 FY23.
Revenue from operations declined marginally to Rs 7,910.70 crore in the third quarter of FY24 as against 7,926.64 crore posted in Q3 FY23.
During Q3, profit before tax was at Rs 305.79 crore, down 10.97% from Rs 343.47 crore recorded in the corresponding quarter last year.
EBITDA stood at Rs 390.63 crore during the quarter while EBITDA margin reduced to 4.94% in Q3 FY24 as against 5.1% in Q3 FY23. The advertisement spends increased by more than 2x to Rs 28.53 crore, which impacted the EBITDA for the current quarter.
In third quarter of FY24, the company achieved export sales of Rs 62.06 crore.
The food & FMCG business segment recorded a sale of Rs 2,498.62 crore in Q3 FY24, contributing to 31.59% of revenue from operations. The segment recorded an EBITDA of Rs 271.01 crore, up 60.02% YoY while EBITDA margin stood at 10.85% in Q3 FY24 as against 11.12% in Q3 FY23.
Edible Oil segment sales rose 1.13% YoY to Rs 5,482.64 crore in Q3 FY24. Volumes increased 3.2% YoY to 6.39 lac MT, despite of price volatility in the current quarter. The growth was mainly on account of expansion in distribution network.
In line with the quarterly trends, revenue from the Wind Turbine Power Generation segment during Q3 FY24 stood at Rs 8.93 crore, stated the company.
The scrip declined 0.84% to Rs 1,442.80 on the BSE. The scrip hit an 52 week high at Rs 1,479 in intraday today.
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First Published: Feb 09 2024 | 11:46 AM IST

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