Patanjali Ayurved FY20 net profit at Rs 425 crore

NEW DELHI:  Homegrown FMCG brand Patanjali Ayurved on Friday said it has recorded a 21.56 per cent increase in its standalone net profit to Rs 424.72 crore for the financial year 2019-20. This against a net profit of Rs 349.37 crore reported for the fiscal year 2018-19, data provided by business intelligence platform Tofler showed. 

The Haridwar-based company’s revenue from operations went up 5.86 per cent last fiscal to Rs 9,022.71 crore compared to Rs 8,522.68 crore in the year-ago period. Its ‘other income’ also surged three-fold during the fiscal to Rs 65.19 crore, from Rs 18.89 crore in financial year 2018-19. 

“Last fiscal was very challenging for us, in which we had acquired Ruchi Soya. Despite financial challenges, we have worked uninterrupted,” Yog Guru Swami Ramdev told news agency PTI.  

In December last year, Patanjali had completed the acquisition of bankrupt competitor Ruchi Soya for Rs 4,350 crore.  Ramdev also said that in FY 2020-2021, the company would have “unparalleled growth”. “We would have higher growth this fiscal than the previous fiscal and higher turnover,” the report quoted Ramdev as saying. 

Sales on the increase
The company’s revenue from operations increased to Rs 9,022.71 crore for FY20, up 5.86% compared to the previous year, when its revenue had stood at Rs 8,522.68 crore