Patanjali Foods Q3 Results: Profit Rises 20.2%, Revenue Up Over 11%

Patanjali Foods Ltd.'s net profit rose 20.2% to Rs 371 crore in the third quarter of the current financial year. The company posted a net profit of Rs 371 crore in the October–December quarter compared to Rs 309 crore in the preceding quarter, according to an exchange filing on Monday.

While the revenue rose 11.6% to Rs 9,103 crore in the October–December quarter versus Rs 8,154 crore in the previous quarter.

• Revenue up 11.6% to Rs 9,103 crore versus Rs 8,154 crore.

• Ebitda up 20.3% to Rs 541 crore versus Rs 449 crore.

• Margin at 5.9% versus 5.5%.

• Net profit up 20.2% to Rs 371 crore versus Rs 309 crore.

The company did not disclose financial details for the year-ago period.

Additionally, the company's board of directors have approved the ‘ESOP grant II’ of 4,25,478 Employee Stock Options under the PFL Employee Stock Option Plan 2023 to eligible employees of the company. The equity shares of the company having a face value of Rs 2 per share.

"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’," as per an exchange filing.

The exercise price per option shall be subject to a discount of 20% to the latest available closing price prevailing in the stock exchanges.

However, options granted and accepted by employees under Grant 1 shall start vesting with effect from March 1, 2025, the filing said.

Shares of Patanjali Foods closed 0.12% higher at Rs 1,851.55 apiece on the NSE, compared to a 0.76% decline in the benchmark Nifty 50. The stock has risen 15.45% in the last 12 months.

Three analysts tracking the company maintain a 'buy' rating on the stock, according to Bloomberg data. The average of 12-month analysts' price targets implies a potential upside of 12.5%.