Categories: Business

Patanjali Foods Q2 results: Profit jumps over 2 times to Rs 255 crore; Ropes in MS Dhoni as brand ambassador for 2 brands

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Patanjali Meals Ltd has reported over two-fold soar in its web revenue to Rs 254.53 crore within the second quarter of this fiscal 12 months and in addition roped in former Indian cricket staff captain M S Dhoni as model ambassador for Mahakosh and Sunrich manufacturers. Its web revenue stood at Rs 112.28 crore within the year-ago interval.

Whole earnings declined to Rs 7,845.79 crore throughout the July-September interval of this fiscal 12 months from Rs 8,524.67 crore within the corresponding interval of the earlier 12 months, in accordance with a regulatory submitting. Whole bills additionally fell to Rs 7,510.71 crore from Rs 8,371.03 crore throughout the interval below evaluate.

Patanjali Meals mentioned in a press release that it has onboarded world-renowned cricketer M S Dhoni as a model ambassador for branding and advertising campaigns of its Mahakosh and Sunrich manufacturers.

“MS Dhoni’s affiliation enhances the health-oriented nature of the corporate’s edible oil vary…,” it added. The Meals & FMCG section achieved income of Rs 2,487.62 crore within the second quarter of this fiscal 12 months.

“The contribution of our Meals and FMCG section to the full income from operations elevated to 31.80 per cent in Q2 of FY24 from 25.14 per cent in Q1FY24 and 27.7 per cent in Q2FY23,” Patanjali Meals mentioned.

The corporate achieved export gross sales of Rs 41.65 crore throughout the July-September quarter. The merchandise are exported to 23 nations. Sanjeev Asthana, CEO of Patanjali Meals, mentioned, “Regardless of the difficult macro and working surroundings, the primary half of the fiscal 12 months has ended on a constructive be aware.”

Within the second quarter, he mentioned the corporate carried out nicely on the profitability metrics with each EBITDA and PAT (revenue after tax) showcasing sturdy development on a QoQ foundation.

“The corporate’s Meals & FMCG section is performing in step with the targets and noticed additional growth of upper contribution within the total monetary efficiency. This enchancment is in step with the tactical shift in our enterprise operations,” Asthana mentioned. Patanjali Meals shares dropped by 1.17 per cent to Rs 1,438 on BSE.

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Amirul

CEO OF THTBITS.com, sharing my insights with people who have the same thoughts gave me the opportunity to express what I believe in and make changes in the world.