Patanjali Foods, the maker of Ruchi Gold oil, reported a more than doubled profit in the second quarter due to lower expenses and falling edible oil prices. The company s profit rose to INR 2.55 billion ($30.63 million), while revenue from operations declined by 8%. The decline in expenses offset the drop in revenue. Patanjali Foods CEO is optimistic that the festival season and increased consumer spends will drive growth in the next quarter.
The Haridwar-based group has crossed Rs 45,000-crore revenue mark already, and is launching a premium FMCG products range to cater to upmarket consumers, he says
It is worth noting that at present Patanjali Foods is the only listed company among the Patanjali group companies. Albeit, the IPO of Patanjali Foods, earlier known as Ruchi Soya, did not come under the leadership of the yoga guru. Ruchi Soya was bought by Patanjali Ayurved in 2019 for Rs 4,350 crore under a resolution process. Later, the company’s name was changed to Patanjali Foods.