Patanjali Foods Ltd.'s net profit fell in the first quarter on an increase in expenses incurred and a fall in other income.
Standalone net profit of the Baba Ramdev-backed company declined 67% from the previous year to Rs 87.75 crore in the June quarter of fiscal 2024, according to its exchange filing.
Patanjali Ayurved Q1 FY23 Highlights (Standalone, YoY)Revenue rose 8% to Rs 7,767 crore.
Operating profit declined 57% to Rs 168.58 crore.
Margin contracted to 2% against 5.4%.
While the overall expenses rose 9% year-on-year, depreciation and amortisation expenses more than doubled to Rs 67.6 crore. Finance costs fell 87% to Rs 24.82 crore.
Other income declined 73% to Rs 43.4 crore.
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