The share price of Patanjali Ayurved declined by 4% after it released its third-quarter profit for the financial year ending 31 March 2024. The quarterly Profit after Tax was Rs 216.54 crores versus Rs 254.54 crores in Q3FY23.
The Multinational conglomerate Patanjali Ayurveda faced a 3.6% dip on 9 February 2024 following the company’s report of a 19.6% year-on-year decline in net profit, amounting to Rs 216.5 crore for the December 2023 quarter. The company’s revenue remained relatively stagnant, with a marginal 0.2% decrease to Rs 7,910.7 crore compared to the same period last year.
- Patanjali Foods Limited saw its Earnings before Interest Tax Depreciation and Amortisation (EBITDA) drop by 6.5% to Rs 344.1 crore.
- In Q3FY24, the total revenue from operations stood at Rs 7,910.70 crore, recording a marginal increase over Q2FY24.
- The Food & FMCG segment achieved the highest quarterly revenue of Rs 2,498.62 crore in Q3FY24 vs Rs 1,523.11 crore in Q3FY23, achieving a growth of 64.05%.
- The Food & FMCG segment accounted for 31.59% of total revenue from operations in the current quarter.
- In Q3FY24, the advertisement spending increased by more than two times to Rs 28.53 crore, thus reducing the EBITDA.
Patanjali’s shares closed at Rs 1,603.80, dropping by 3.35% at 3.30 pm today.
