Patanjali Foods gains on healthy Q3 numbers in edible oil segment

For the quarter, they registered an uptick in the value over Q2 with an incremental growth while the EBITDA margin aligned with the business projections, the company said.

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Shares of Patanjali Foods gained nearly 1 percent at the open on the NSE a day after it reported a healthy Q3 performance in the edible oil segment. The company reported single-digit sequential and on-year growth in volumes during Q3FY24. At 9:20am, the stock was trading at Rs 1651.70.

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In a regulatory filing on January 15, Patanjali Foods said that muted price volatility, robust domestic demand and limited divergence between futures and physical market prices allowed for better performance. For the quarter, they registered an uptick in the value over Q2 with an incremental growth while the EBITDA margin aligned with the business projections, the release said.

According to the company, branded sales continued to contribute 75 percent of the total edible oil sales volume. In the December quarter, the revenue of the food and FMCG segment (32 percent of revenue) was stable, while the biscuits portfolio grew over 20 percent on-year. The company will provide exact details on the numbers during the result announcement, the release added.

Also read: Patanjali Foods launches 14 products; expects turnover to grow up to Rs 50,000 cr in 5 years

For the quarter  ended September 2023, the company had reported net sales of Rs 7,821.89 crore, down by 8.13 percent from Rs 8,514.12 crore a year back. Quarterly net profit for the period reached Rs 254.54 crore from Rs 112.29 crore. EBITDA for the reporting period was Rs 419.20 crore as against Rs 205.15 crore.

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