Ruchi Soya Q3 results: Firm posts net profit of Rs 227 cr

NEW DELHI: on Wednesday reported a net profit of Rs 227.44 crore for the quarter ended in December.

The company had posted a net profit of Rs 7,617.43 crore in the year-ago period because of an exceptional gain of Rs 7,466.06 crore.

The net profit in the third quarter of this fiscal year is up by 50 per cent year-on-year if this exceptional gain is excluded.

Total income stood at Rs 4,475.6 crore during the third quarter of this fiscal as compared to Rs 3,725.66 crore in the corresponding period of the previous year, according to a regulatory filing.

"During Q3FY21, the performance of the company's branded business has been very encouraging, with Ruchi Gold, Mahakosh, Nutrela and Ruchi Star registering significant growth. The company's branded business including brands sold under royalty arrangement achieved a sales of Rs 3,017.58 crore in Q3FY21, contributing to 67.42 per cent of the total sales of the company," Ruchi Soya said.

The net exceptional items for the previous year ended 31st March 2020 comprised of de-recognition of operational and financial creditors difference amounting to Rs 7525.60 crore between the carrying amount of financial liabilities extinguished and consideration paid; impairment of capital work in progress and property, plant and equipment of Rs 35.37 crore; impairment of refund receivable against commercial tax/ VAT and central sales tax amounting to Rs 42.59 crore.

In 2019, Baba Ramdev-led Patanjali Ayurved acquired Ruchi Soya in insolvency proceedings.