Patanjali Foods Stock Down 5% After Q3 Profit Slump

9 Feb 2024 , 12:44 PM

Supported by yoga guru Ramdev, Patanjali Foods Limited’s shares saw a 5% decrease in morning trading on February 9 following the company’s revelation of a 19.6% year-over-year (YoY) decline in net profit for the December quarter, coming in at ₹216.5 Crore.

The company’s sales remained essentially unchanged from the same period last year, down 0.2% to ₹7,910.7 Crore. 

The stock was down 4.2 % from the previous close on the NSE as of 12.20 pm, trading at ₹1,594. Over the past three years, the stock has increased by about 15%.

The edible oil and FMCG company saw a 6.5% decline in EBITDA to ₹344.1 Crore. EBITDA decreased to 4.4% from 4.6% in the same period last year. Earnings before interest, tax, depreciation, and amortization is abbreviated as EBITDA.

Food and FMCG revenue reached a record high of ₹2,498.62 Crore for the quarter, a noteworthy 64.05% increase over the previous year’s revenue of ₹1,523.11 Crore.

With sales of ₹5,482.64 Crore, the food oil segment demonstrated a 1.13 % sequential topline rise.

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