Patanjali Ayurved Ltd.'s fourth-quarter profit fell while margins contracted as costs of raw materials doubled.
The consumer goods maker net profit declined 28% sequentially to Rs 83.5 crore in the three months ended March, according to its exchange filing.
For the full fiscal ended March 2022, the Baba Ramdev-backed company posted a net profit of Rs 431.8 crore, down 10.8% year-on-year.
Key Highlights (QoQ)
Revenue rose 23% to Rs 3,353.4 crore.
Operating profit fell 17% to Rs 207.7 crore.
Margin narrowed to 6.2% against 9.1%.
Cost of materials consumed rose 105% to Rs 1,856 crore.
According to the company's disclosures, the sales of ayurvedic products jumped 17.8% to Rs 330.3 crore during the January-March period.
Sales of fast-moving consumer goods, including beverages, ghee, mustard oil, dairy, honey and personal care, rose 22.5% to Rs 2,958.7 crore.
Other consumer goods peers such as Hindustan Unilever Ltd. and Dabur Ltd. have also cited exceptional price instability in most of their raw materials, packaging and transportation costs, which impacted margins.
Patanjali's exports fell 24% to Rs 16.5 crore during the quarter.
After the transfer of its food business to Ruchi Soya Ltd., the management of the company told BQ Prime that it has mapped out aggressive export plans to fuel growth.
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