New Delhi, Feb 11 (IANS) Swami Ramdev’s Patanjali Foods has reported a significant increase in its total expenses for the third quarter of the financial year 2024-25, which rose by nearly 11.2 per cent to Rs 8,653 crore in Q3, compared to Rs 7,781.64 crore in Q2 FY25.
This increase was mainly driven by the higher costs of materials consumed, according to its stock exchange filing.
The fast-moving consumer goods (FMCG) segment saw a decline of 18.4 per cent, with revenue dropping to Rs 2,038 crore from Rs 2,499 crore in the same quarter last year (Q3 FY24).
The shares of Patanjali Foods dropped by 2 per cent to Rs 1,817.80 on the BSE in intra-day trade on Tuesday.
However, the company’s net profit jumped by 71 per cent in the quarter ended on December 31, 2024.
For the period from October to December 2024, Patanjali Foods recorded a net profit of Rs 370 crore, up from Rs 217 crore in the same quarter last year.
Along with this, the company’s revenue from operations rose by 15 per cent to Rs 9,103 crore as compared to Rs 7,911 crore in the same quarter of the previous fiscal.
A major contributor to the company’s revenue was its edible oils business, which saw a 23 per cent increase in sales at Rs 6,717 crore, compared to Rs 5,483 crore last fiscal.
Over the past year, the company has delivered a 19 per cent return to its investors, and its stock price has risen 2.49 per cent year-to-date (YTD).
The company’s market capitalisation stands at Rs 67,088.51 crore, and its shares reached a 52-week high of Rs 2,030 in September 2024.
Additionally, the company’s board of directors has also approved the issuance of 4,25,478 Employee Stock Options (ESO) under the PFL Employee Stock Option Plan 2023.
These options will be granted to eligible employees as part of the company’s efforts to reward and retain talent.
Each stock option will be converted into equity shares with a face value of Rs 2 per share.
In its exchange filing, the company said that the approved eligible employees of the company under the existing PFL Employee Stock Option Plan 2023, within shareholders approved limit of 1,08,59,845 options as ‘ESOP Grant II’.
–IANS
pk/na
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