LIC Increases Stake in Patanjali Foods as Q2 Profit Jumps 21%

26 Nov 2024 , 07:26 PM

Life Insurance Corporation of India (LIC) has increased its stake in Patanjali Foods Ltd, raising its shareholding from 4.986% to 5.02% of the company’s paid-up capital.

On November 26, 2024, LIC purchased an additional 1,25,000 equity shares in Patanjali Foods at ₹1,764.96 per share. LIC’s total shareholding in Patanjali Foods now stands at 1,81,73,377 shares.

Patanjali Foods reported a net profit of ₹309 crore for Q2 FY25, showing a 21.4% year-on-year growth compared to ₹254.5 crore in Q2 FY24. The company’s revenue rose by 4.2%, reaching ₹8,154.2 crore in Q2 FY25, up from ₹7,821.9 crore in the same period last year. Operating profit significantly increased with EBITDA growing by 13.8% to ₹449.6 crore. EBITDA margin improved from 5.1% in Q2 FY24 to 5.5% in Q2 FY25.

Gross profit surged from ₹1,021.26 crore in Q2 FY24 to ₹1,292.81 crore in Q2 FY25, driven by favorable pricing. The company generated ₹34.55 crore from exports, with products reaching 21 countries. Patanjali Foods’ wind turbine power generation segment contributed ₹14.35 crore, covering 20% of its energy needs from renewable sources.