Sequentially, the topline rose just 1.1%, while the bottomline dropped by nearly 15%. The mainstay edible oils business reported a 15.3% drop in revenue to Rs 5,483 crore, while the FMCG business reported a sharp 64% growth in revenue to Rs 2,499 crore.
Patanjali Foods Q3 Results: Revenue from operations fell 0.2% to Rs 7,911 crore. Sequentially, the topline rose just 1.1%, while the bottomline dropped by nearly 15%.
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.
ASM or additional surveillance framework is part of the initiatives taken by the Securities and Exchange Board of India and stock exchanges to enhance market integrity and safeguard the interest of investors. ASM framework is based on objective parameters with price, volume variation, volatility, etc.